The bill amends various sections of the Kansas banking code to modernize the regulatory framework governing banks and trust companies. Key provisions include the requirement for immediate notification to the commissioner regarding changes in board members, the stipulation that a bank's charter becomes void upon merger, and the establishment of conditions for banking operations without prior authority. The bill also mandates that hearings on banking applications adhere to the Kansas administrative procedure act, enhancing public input and oversight. Additionally, it clarifies the definition of "branch bank" and outlines procedures for establishing or relocating branch banks, including public notice and comment opportunities.

Further amendments focus on the establishment and operation of trust service offices, allowing state trust companies to apply for approval to operate in any city with necessary documentation. The bill also modifies requirements for nonresident trust companies and mandates that Kansas banks and trust companies obtain approval before establishing out-of-state trust facilities. It streamlines the regulatory process by repealing several existing statutes related to trust services. Overall, the legislation aims to enhance regulatory oversight, ensure compliance, and clarify the processes 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