Kan. Admin. Regs. § 17-21-2

Current through Register Vol. 43, No. 32, August 8, 2024

Section 17-21-2 - Application

(a) With the approval of the commissioner, any bank holding company may acquire control of one or more Kansas banks or Kansas bank holding companies.

(b) A bank holding company shall be deemed to be acquiring control of a Kansas bank or Kansas bank holding company if, as a result of the proposed acquisition:

(1) the company, directly or indirectly or acting through one or more persons, will own, control or have the power to vote 25 percent or more of any class of voting securities of a Kansas bank or Kansas bank holding company:

(2) the company will control in any manner the election of a majority of the directors or trustees of a Kansas bank or Kansas bank holding company; or

(3) the commissioner determines that the company directly or indirectly will exercise a controlling influence over management or policies of a Kansas bank or Kansas bank holding company.

(c) Each request for approval to acquire control of a Kansas bank or Kansas bank holding company shall be made by filing an application in the form required by the commissioner.

(1) A separate application and fee shall be filed for each bank or bank holding company to be acquired.

(2) The applicant holding company shall bear any additional costs of the application.

Kan. Admin. Regs. § 17-21-2

Authorized by K.S.A. 1995 Supp. 9-539; implementing K.S.A. 1995 Supp. 9-532; effective Aug. 10, 1992; amended April 19, 1993; amended Aug. 9, 1996.