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 notify the commissioner of any changes in their board members, specifically the chief executive officer, president, or directors, prior to their assumption of duties. Additionally, the bill clarifies the procedures for merger transactions, stating that certain provisions do not apply if the surviving entity is a federally chartered institution, provided that the commissioner is notified in advance. It also establishes regulations for trust service offices, allowing state-incorporated trust companies to operate in any city with the necessary approvals and public notice.

Significant deletions from current law include the removal of phrases that previously qualified definitions and procedural requirements, such as "and amendments thereto." The bill introduces new provisions for remote service units and loan production activities, enhancing operational flexibility for banks while ensuring regulatory compliance. It also modifies the requirements for nonresident trust companies establishing facilities in Kansas, allowing for exemptions under specific conditions. Overall, the bill aims to enhance operational efficiency and transparency within the banking sector in Kansas while maintaining necessary regulatory oversight.

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