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 banks to immediately notify the commissioner of any changes in their board members and the stipulation that the charter of certain banks will be void upon the effective date of a merger. The bill also establishes conditions under which banking can occur without prior authority from the commissioner and mandates that hearings regarding banking applications follow the Kansas administrative procedure act. Additionally, it clarifies the definition of a "branch bank," outlines procedures for establishing or relocating branch banks, and introduces provisions for remote service units that allow banks to conduct transactions electronically.

Significant amendments include the deletion of certain phrases to streamline definitions, such as removing "and amendments thereto" from statutory references. The bill also modifies the procedures for merger transactions, requiring written notification to the commissioner at least 10 days prior to the transaction and clarifying publication requirements for merger notices. Furthermore, it addresses the establishment of trust service offices by trust companies, allowing them to operate after obtaining approval from the commissioner and removing the distance requirement for relocating these offices. Overall, the bill aims to enhance regulatory oversight and ensure compliance within the banking and trust sectors 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