Kan. Admin. Regs. § 38-10-1 - Permission to establish branches
(a) A Kansas
state-chartered savings and loan association may be permitted by the savings
and loan commissioner to establish branches within another state provided:
(1) the establishment of the branch office
will be achieved in conjunction with a transaction in which:
(A) the assets and/or liabilities are
acquired by the Kansas state-chartered association by merger or otherwise; and
(B) the insured accounts of the
failing non-Kansas state-chartered institution are assumed by and transferred
to the insured Kansas state-chartered association as a means of payment of
insurance by the federal savings and loan insurance corporation or pursuant to
an action by the federal savings and loan insurance corporation undertaken to
prevent the liquidation of the non-Kansas state-chartered association; and
(2) the commissioner
determines that the acquiring of the non-Kansas state-chartered association
poses no excessive risk to the acquiring Kansas state-chartered association.
(b) The association
shall apply to the commissioner in the form and under the conditions required
by the commissioner.
(c) A Kansas
state-chartered association that acquires a failing institution may establish
or operate branch offices in a state or states, other than the state in which
the failing institution operates, if branching rights under this subsection do
not in any event exceed three states other than the state in which the failing
institution operates.
Notes
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