Kansas Administrative Code

Record-keeping for securities transactions. Each bank or trust company ef- fecting securities transactions for customers shall maintain the following records with respect to such transactions for at least three years. (a) There shall be chronological records of original entry con…

Form of notification for secu- rities transactions. Each bank or trust company effecting a securities transaction for a customer shall maintain for at least three years and except as provided in K.A.R. 17-23-14, shall mail or oth- erwise furnish to such customer either of the fol…

Time of notification for se- curities transactions. The time for mailing or otherwise furnishing the written notification de- scribed in K.A.R. 17-23-13 shall be five business days from the date of the transaction, or if a bro- ker or dealer is utilized, within five business days…

(Authorized by K.S.A. 9-1713; im- plementing K.S.A. 9-1601, K.S.A. 9-2103; effec- tive Feb. 28, 1994; revoked Jan. 18, 2002.)

Location of trust documents.(a) Unlessanexceptionisgrantedbythecommissioner, all of the original governing instruments establish- ingafiduciaryrelationshipwithabankortrustcom- pany shall be permanently maintained and located at one site, which shall be one of the following: (1) T…

Adoption of policies and proce- dures with respect to brokerage placement practices. (a) Each bank or trust company exer- cising investment discretion, as defined in subsec- tion (r) of K.A.R. 17-23-1, with respect to an ac- count shall adopt and follow written policies and proce…

Administration of fiduciary pow- ers. (a) The board of directors shall be responsi- ble for the proper exercise of fiduciary powers by the bank or trust company. (1) All matters pertinent thereto, including the determination of policies, the investment and disposition of property…

Books and accounts. (a) Each bank or trust company exercising fiduciary powers shall retain fiduciary records which shall be kept separate and distinct from other records of the bank or trust company. (b) Each such bank or trust company shall keep an adequate record of all pendin…

Audit of trust activities. (a) The board of directors, or an audit committee desig- nated by the board of directors, shall make a thor- ough examination of the books, records, funds and securities held by the bank trust department or trust company, in a fiduciary capacity, at eac…

Funds awaiting investment or distribution. (a) Funds held by a bank or trust company in a fiduciary capacity that are awaiting investment or distribution shall not be held unin- vested or undistributed any longer than is reason- able for the proper management of the account. (1) …

Investment of funds held as fiduciary. Funds held by a bank or trust com- pany in a fiduciary capacity shall be invested in accordance with any one or more of the follow- ing: (a) the instrument establishing the fiduciary relationship; (b) any order of the probate or other court;…

Self-dealing. (a) Unless lawfully authorized by the instrument creating the rela- tionship, by court order or by the laws of the state of Kansas, funds of a fiduciary account for which a bank or trust company has investment discretion shall not be invested in stock or obligations…

(Authorized by K.S.A. 2000 Supp. 9-1713; implementing K.S.A. 9-1603, K.S.A. 9-1607, K.S.A. 9-1608, and K.S.A. 2000 Supp. 9-2103, as amended by L. 2001, ch. 27, §1; ef- fective Feb. 28, 1994; amended Jan. 18, 2002; re- voked Feb. 21, 2020.)

Signed acknowledgment; con- tents. Before a licensee enters into any contract for the provision of services or receives any com- pensation or promise of compensation for a mort- gage loan, the licensee shall acquire from the cus- tomer a signed acknowledgment containing only the …

Mortgage business fees. At the time of filing any application pursuant to the Kan- sas mortgage business act, K.S.A. 9-2201 et seq. and amendments thereto, each applicant, licens- ee, or registrant shall remit to the office of the state bank commissioner the following applicable …

Prelicensing and continuing ed- ucation; requirements. (a) Each individual re- quired to register as a loan originator pursuant to the Kansas mortgage business act, K.S.A. 9-2201 et seq. and amendments thereto, shall complete at least 20 hours of prelicensing professional educa- …

Record retention. (a) In any mortgage transaction in which the licensee does notclosethemortgageloaninthelicensee’sname, the licensee shall retain the following documents, as applicable, for at least 36 months following the loan closing date, or if the loan is not closed, the loa…

Prelicensure testing. (a) On and after July 31, 2010, each individual required to register as a loan originator pursuant to the Kansas mortgage business act, K.S.A. 9-2201 et seq. and amendments thereto, shall pass a qualified written test. For purposes of this regulation, the co…

Bond requirements. Each ap- plicant for a new or renewal Kansas mortgage business act license shall submit a bond in the fol- lowing amounts: (a) For any applicant who main- tains a bona fide office, $50,000.00 or, if the ap- plicant or licensee originated or made more than $50,0…

Registration and renewal fees. When filing any application or renewal pursuant to the Kansas credit services organization act, K.S.A. 50-1116 et seq. and amendments thereto, each applicant or registrant shall remit to the of- fice of the state bank commissioner the applicable non…

Financial subsidiaries. (a) Before acquiring an interest in a financial subsidiary pursuant to K.S.A. 9-1101(29), and amendments thereto, or engaging in a new activity in an exist- ing financial subsidiary of the bank, the bank shall provide a written notice to the commissioner t…

Investment securities; definitions. For the purposes of K.S.A. 1995 Supp. 9-1101(6) and this article: (a) “investment security” means an investment made for the account of the bank which is a marketable obligation evidencing in- debtedness in the form of a bond, note, or deben- t…

Investment securities; requests for rulings. (a) Any bank may request a deter- mination by the commissioner whether a secu- rity which the bank holds or desires to purchase for its own account qualifies as an investment security. (b) Any request shall be accompanied by in- format…

Investment securities; limitation. The percentage limitations contained in K.S.A. 1995 Supp. 9-1101(6) shall be determined on the basis of the par or face value, or cost of the se- curity, whichever is less, and not on the market value. (Authorized by K.S.A. 9-1713; implement- in…

Investment securities; ledger and records. (a) The bank shall maintain a central listing showing the following for each investment security: (1) par value; (2) cost; (3) interest rate; (4) purchase and maturity dates; and (5) name of the issuer. (b) The bank shall retain the foll…

Investment securities; amorti- zation of premium. A bank shall not purchase an investment security for its own account at a price exceeding par unless the bank provides for the regular amortization of the premium paid in accordance with generally accepted accounting principles (G…

Investment securities; conver- sion. (a) The purchase of investment securities convertible into stock at the option of the issuer shall be prohibited. (b) A bank may purchase investment securities convertible into stock at the option of the hold- er or with stock purchase warrant…

Investment securities; acquisition through debt previously contracted. The re- strictions and limitations contained in article 9 of these regulations shall not apply to investment securities acquired: (a) through foreclosure on collateral; (b) in good faith by way of compromise o…

Investment securities; repur- chase. (a) Subject to the limitation in subsection (b) of this regulation, a bank may purchase and sell investment securities under a repurchase agreement if one or more of the following provi- sions is part of the repurchase agreement: 753 Documenta…

Investment securities; trustee. Where the investment security is issued under a trust agreement, the agreement shall provide for a trustee independent of the obligor. The trustee shall be a bank or trust company. (Authorized by K.S.A. 9-1713; implementing K.S.A. 1995 Supp. 9-1101…

Investment securities; no trans- action as principal. Except with the prior ap- provalofthecommissioner,abankshallnotpartic- ipate as a principal in the marketing of investment securities. (Authorized by K.S.A. 9-1713; imple- menting K.S.A. 1995 Supp. 9-1101; effective Aug. 9, 19…

Definition. As used in these reg- ulations, award board and board shall mean the employee award board. (Authorized by and im- plementing L. 1986, Ch. 320; effective, T-87-24, Oct. 1, 1986; effective May 1, 1987.)

Service award. (a) All classified and unclassified employees shall be eligible for service awards for 10, 20, 30 and 40 years of service with the state. Recipients shall be actively employed on the state payroll at the time of the award, except that in the case of retired employe…

Eligibility to receive award. (a) All state employees, including employees retired un- derprovisionsofK.S.A.74-4901etseq.,shallbeel- igibletoreceivecashawardsexceptemployeeswho are members of the award board and employees excluded under L. 1986, Chapter 320, Section 4. (b) Except…

Acceptable suggestions. An ac- ceptable suggestion shall: (a) Reduce costs, duplication, time, waste, or accidents; (b) increase productivity or job interest; (c) improve services, job performance, public relations, or employee morale; Editor’s Note: Agency 18 was originally assi…

Non-acceptable suggestions. (a) Suggestions related to the following subjects shall not be accepted for consideration: (1) Suggestions which correct a condition that exists only because established procedures are not being followed; (2) suggestions which have been considered or f…

Suggestion submission; evalua- tion; approval. (a) All suggestions shall be sub- mitted to the board in a form prescribed by the board. (b)(1) Each acceptable suggestion shall be transmitted by the board to the head of the agency or the several agencies identified in the proposed…

Types of award; payment of award. (a) An award for an adopted suggestion may consist of a certificate only, or a certificate plus a cash payment. The amount of a cash pay- ment shall be limited by the provisions of L. 1986, Chapter 320, Section 5 (b). The award board may also giv…

Determination of cash awards for suggestions with intangible benefits. The type of award and the cash amount, if appropriate, shall be determined by the board for suggestions with intangible benefits when the monetary value of the suggestions cannot readily be determined 785 Empl…

Suggestion property rights. (a) Once an award is granted and accepted, the sug- gestion shall be considered the property of the state of Kansas. (Authorized by and implementing L. 1986, Ch. 320; effective, T-87-24, Oct 1, 1986; effective May 1, 1987.) 787 Articles 19-1. General P…

Definitions. (a) “Advisory opinion” means a formal opinion issued by the commission as provided by relevant law. (b) “Chairperson” means the chairperson of the commission appointed by the governor, or in the event of the chairperson’s absence, the vice- chairperson or any other c…

Representation. (a) Appearance inpersonorbyattorney.Anindividualmayappear in his or her own behalf. A member of a partner- ship may represent the partnership, a bona fide officer of a corporation, trust or association may represent the corporation, trust or association in present…

Commission decisions. Except as otherwise provided by relevant law, all orders, opinions, or findings of fact issued by the commis- sion shall be signed by the chairperson. The deci- sion of any committee of hearing commissioners shall be by majority vote. A concurring vote of fi…

(Authorized by K.S.A. 1979 Supp. 25-4119a, 46-253; effective, E-76-52, Oct. 24, 1975; effective, E-77-20, May 1, 1976; effective Feb. 15, 1977; revoked May 1, 1980.)

Alternative procedures. Upon finding in a specific proceeding that the just and expeditious determination of a matter requires simplification, alteration, or non-application of any or all of K.A.R. 19-1 to K.A.R. 19-8, inclu- sive, or the adoption of supplemental proce- dures, th…

Construction. These rules shall be liberally construed to accomplish the purposes of relevant law and the policies of the commission including the just and expeditious determination of the issues presented. (Authorized by K.S.A. 1976 Supp. 25-4119a, 46-253; effective, E-76-52, Oc…

(Authorized by K.S.A. 1979 Supp. 25- 4119a, 46-253; effective, E-76-52, Oct. 24, 1975; effective, E-77-20, May 1, 1976; effective Feb. 15, 1977; revoked May 1, 1980.)

Appointment of acting executive director. Whenever it is necessary to appoint an acting executive director without delay, the chair- person may make such appointment, subject to the ratification or rejection of the commission at the next meeting. The rejection of such appointment…

Pleadings or other documents filed with the commission. (a) General. All pleadings or other documents shall be mailed first-class with postage prepaid or delivered per- sonally to the office of the commission. The plead- ingsorotherdocumentsshallclearlydesignatethe file number, i…

Copies of pleadings or other doc- uments. The petitioner or party filing any plead- ing or other document shall file the original there- of with the commission. The commission may require the filing of such additional copies as it may need or desire. (Authorized by K.S.A. 1979 Su…