Kan. Admin. Regs. § 17-21-3

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

Section 17-21-3 - Contents of application

(a) Each applicant shall respond accurately and fully to all questions contained in the application form provided by the commissioner.

(b) Upon submitting an application, each applicant shall provide the commissioner with the following additional information:

(1) a statement by the applicant demonstrating that the proposed acquisition is in the interest of the public and of the depositors and creditors of the bank to be acquired or any bank subsidiaries of the bank holding company to be acquired;

(2) a copy of all cease and desist orders, memorandums of understanding or other formal or informal actions taken by any federal or state regulator, under which the applicant or any of the applicant's subsidiaries or affiliates has operated within the 18 months preceding the application;

(3) a copy of the most recent regulatory examination of any bank or trust company subsidiary or affiliate of the applicant if a composite rating of "3," "4," or "5" was received;

(4) a copy of the most recent report of examination of the bank holding company prepared by the federal reserve bank or the applicant's state regulator. If the commissioner is not satisfied that the information provided gives adequate assurance that the bank or banks to be acquired will be operated safely and soundly, the commissioner may conduct an examination of the applicant or any of its subsidiaries or affiliates for the purpose of augmenting such information. The applicant shall bear the cost of any examination;

(5) all information required by K.S.A. 1995 Supp. 9-1722; and

(6) an analysis demonstrating that the acquisition will not cause the applicant to exceed limitations imposed by K.S.A. 1995 Supp. 9-520(a) regarding concentrations of deposits.

Kan. Admin. Regs. § 17-21-3

Authorized by K.S.A. 1995 Supp. 9-539; implementing K.S.A. 1995 Supp. 9-533; effective Aug. 10, 1992; amended Aug. 9, 1996.