Kan. Admin. Regs. § 121-5-3 - Deteriorating condition

(a) A credit union shall be deemed to be in a "deteriorating condition," as that term is used in K.S.A. 17-2206(d) and amendments thereto, if any of the following conditions is met:

(1) The credit union's net worth category declines from well capitalized, adequately capitalized, or undercapitalized to significantly undercapitalized or to critically undercapitalized within a 12-month period.

(2) The credit union's net worth category declines from significantly undercapitalized to critically undercapitalized within a 12-month period.

(3) The credit union's net worth category declines to critically undercapitalized in a manner other than the manner specified in paragraphs (a)(1) and (2).

(b) The following federal regulations, as in effect on November 29, 2002, are hereby adopted by reference:

(1) 12 CFR 702.2, except subsections (b), (c), (h), (i), and (j);

(2) 12 CFR 702.101;

(3) 12 CFR 702.102 (a), including table 1. This subsection includes the meanings of the terms "well capitalized," "adequately capitalized," "undercapitalized," "significantly undercapitalized," and "critically undercapitalized";

(4) 12 CFR 702.103;

(5) 12 CFR 702.104, including table 2 but excluding the following text:

(A) In subsection (a), "(as defined in 12 CFR 723.1 or as approved under 12 CFR 723.20 )";

(B) in subsection (b), "as defined in 12 CFR 723.1 or as approved under 12 CFR 723.20 ";

(C) subsection (c); and

(D) in subsection (g), "as defined in 12 CFR 723.1 or as approved under 12 CFR 723.20 ";

(6) 12 CFR 702.105, including table 3;

(7) 12 CFR 702.106, including table 4;

(8) 12 CFR 702.107, including table 5; and

(9) 12 CFR 702.108 (a) and (c)(1).

Notes

Kan. Admin. Regs. § 121-5-3

Authorized by K.S.A. 17-2260; implementing K.S.A. 17-2206; effective, T-121-9-6-06, Sept. 6, 2006; effective Dec. 15, 2006.