The bill amends various sections of the Kansas banking code to modernize definitions, terms, and operational conditions for banks and trust companies. Key updates include the requirement for certain hearings to align with the Kansas administrative procedure act and the immediate notification of changes in board members. It establishes that the charter of certain banks will be void upon a merger's effective date and outlines lawful conditions for banking operations without prior authority from the commissioner. The bill also repeals several existing statutes, including K.S.A. 9-2101 and 16-842, and clarifies definitions related to "bank," "bank holding company," and "company," while updating procedures for establishing and relocating branch banks.

Additionally, the bill mandates that banks retain oaths taken by newly elected officers or directors for commissioner review and requires notification of changes in key leadership positions. It stipulates that merger notifications must be submitted at least 10 days prior to the transaction, with provisions for public comment. The bill also addresses the operation of trust service offices by allowing trust companies to establish them with commissioner approval, while deleting the previous one-mile relocation requirement and extending it to ten miles. Overall, the legislation aims to streamline regulations and enhance compliance for banking and trust operations in Kansas.

Statutes affected:
As introduced: 9-2101, 16-842, 9-519, 9-1111, 9-1114, 9-1724, 9-1807, 9-2011, 9-2107, 9-2108, 9-1714, 9-1809, 9-2111
As Amended by House Committee: 9-2101, 16-842, 9-519, 9-1111, 9-1114, 9-1724, 9-1807, 9-2011, 9-2107, 9-2108, 9-1714, 9-1809, 9-2111
Enrolled: 9-2107, 9-2101, 16-842, 9-519, 9-1111, 9-1114, 9-1724, 9-1807, 9-2011, 9-2108, 9-1714, 9-1805, 9-1809, 9-2111