Chapter 9, BANKS AND BANKING; TRUST COMPANIES

9-2229. Additional charges allowed. (a) In addition to the finance charge permitted by K.S.A. 2025 Supp. 9-2223 through 9-2234, and amendments thereto, for covered transactions, a mortgage company may contract for and receive the following additional charges for such covered tran…

9-2230. Late fees authorized; limitation. (a) The parties to a covered transaction may contract for a late fee on any installment not paid in full within 10 calendar days after its scheduled or deferred due date in an amount not to exceed 5% of the unpaid amount of the installmen…

9-2231. Loans secured by mortgages on consumer's principal residence; negative amortization and balloon payments prohibited. (a) A covered transaction shall not provide for the negative amortization of principal or a balloon payment when the loan-to-value ratio at the time such c…

9-2232. Appraisals required; notice to consumer of high loan-to-value mortgage; refund of certain fees after consumer withdrawals from covered transaction. (a) The provisions of this section shall not apply to a mortgage company that is exempt pursuant to K.S.A. 9-2202(a), and am…

9-2233. Enforcement of default provision in agreement. (a) An agreement of the parties to a covered transaction with respect to default on the part of the consumer shall be enforceable only to the extent that the: (1) Consumer fails to make a payment as required by agreement; or …

9-2234. Cure of default and notice of right to cure; surrender of collateral by consumer; possession of collateral by mortgage company. (a) After a consumer has been in default for 10 days for failure to make a required payment in a covered transaction payable in installments, a …

9-2301. Citation of act; definitions. (a) The provisions of K.S.A. 9-2301 through 9-2327, and amendments thereto, shall be known and may be cited as the technology-enabled fiduciary financial institutions act. The technology-enabled fiduciary financial institutions act shall be a…

9-2302. Organization; application for certificate of authority; out-of-state banks and trust companies criteria for approval; fingerprinting; applicable distribution. (a) No fiduciary financial institution shall be organized under the laws of this state nor engage in fidfin trans…

9-2303. Fees and assessments; examination expenses; remittance of moneys. (a) An application for a fiduciary financial institution charter shall include a nonrefundable fee to be remitted in a manner prescribed by the commissioner. Until July 1, 2025, the application fee shall be…

9-2304. Provisions of state banking code applicable; exceptions; conflict of law. (a) To the extent a conflict does not exist between this act and chapter 9 of the Kansas Statutes Annotated, and amendments thereto, except as provided in subsections (b), (c) and (e), the provision…

9-2305. Capitalization requirements. (a) For purposes of this section, "capital" means the total of the aggregate par value of a fiduciary financial institution's outstanding membership units, its surplus and its undivided profits. (b) (1) The required capital for fiduciary finan…

9-2306. Board of directors; membership; annual meeting; oath; notification of commissioner. (a) The business of any fiduciary financial institution shall be managed and controlled by such fiduciary financial institution's board of directors. (b) The board shall consist of not les…

9-2307. Report to commissioner; examinations; requirements. (a) A fiduciary financial institution shall make a report to the commissioner pursuant to the provisions of K.S.A. 9-1704, and amendments thereto. In making such a report, a fiduciary financial institution shall: (1) Rep…

9-2308. Name of institution; advertising; restrictions. A fiduciary financial institution may use in such fiduciary financial institution's business name or advertising the words "fiduciary financial institution" or any similar term or phrase, but may not use in such institution'…

9-2309. Maintaining suitable office space; requirements; staffing; maintenance of records. (a) A fiduciary financial institution shall: (1) Maintain suitable office space in an economic growth zone, as defined in K.S.A. 9-2301, and amendments thereto, for fidfin transactions, cus…

9-2310. General powers. Any fiduciary financial institution is hereby authorized to exercise by its board of directors or duly authorized officers or agents, subject to law, the following powers: (a) To engage in fidfin transactions in accordance with K.S.A. 9-2311, and amendment…

9-2311. Financing; required distribution amount; schedules; remittance of moneys; disclosure to customers. (a) If authorized by the terms of an instrument as such term is defined in K.S.A. 9-2301, and amendments thereto, a fiduciary financial institution may: (1) Extend financing…

9-2312. Authorized functions; parties engaged by an institution; services to residents of other states. (a) Subject to the requirements of K.S.A. 9-2309(d), and amendments thereto, a fiduciary financial institution may: (1) Employ attorneys, accountants, investment advisors, agen…

9-2313. Custodial services; requirements. (a) A fiduciary financial institution may serve as a custodian, which may include serving as a qualified custodian, as defined by the United States securities and exchange commission in 17 C.F.R. § 275.206(4)-2, of an asset custody accoun…

9-2314. Trust advisor; rights, powers, immunities and liabilities. Any instrument providing for a trust advisor may also provide such trust advisor with some, none or all of the rights, powers, privileges, benefits, immunities or authorities available to a trustee under Kansas la…

9-2315. Excluded fiduciary; actions not liable for; relieved of certain duties; deemed administrative actions. (a) An excluded fiduciary is not liable, either individually or as a fiduciary, for any of the following: (1) Any loss that results from compliance with a direction of t…

9-2316. Trust advisor; presumed fiduciary; jurisdiction; appointment. (a) A trust advisor shall be presumed to be a fiduciary when exercising such trust advisor's authority under this act. (b) By accepting an appointment to serve as a trust advisor of a fidfin trust or an alterna…

9-2317. Entity as trust advisor; requirements. (a) If an entity is appointed as a trust advisor, the provisions of article 8 of chapter 9 of the Kansas Statutes Annotated, and amendments thereto, shall not apply to such entity, if the entity: (1) Is established for the exclusive …

9-2318. Indemnification of trust advisor; exceptions. An instrument may relieve and indemnify a trust advisor and a fiduciary financial institution that serves as trustee of a fidfin trust or alternative asset custody account from liability for a breach of fiduciary duty. Any suc…

9-2319. Trustee compensation. (a) Notwithstanding the provisions of K.S.A. 58a-708, and amendments thereto, if the terms of a fidfin trust specify the trustee's compensation, such trustee is entitled to be compensated as provided in such terms, except that compensation may be inc…

9-2320. Privacy; protection in court proceedings; exception. The privacy of those who have established a fidfin trust or alternative asset custody account shall be protected in any court proceeding concerning such trust if the acting trustee, custodian, trustor or any beneficiary…

9-2321. Forms; definition; request for review; review not approval or endorsement. (a) For purposes of this section, "form" includes: (1) An instrument as defined in K.S.A. 9-2301, and amendments thereto; (2) a transaction agreement between a fiduciary financial institution and a…

9-2322. Adoption of rules and regulations by the commissioner; contracts for technical assistance. (a) Pursuant to K.S.A. 9-1713, and amendments thereto, the commissioner shall adopt rules and regulations on or before January 1, 2022, as are necessary to administer this act. (b) …

9-2323. No maximum interest rate or charge. Notwithstanding the provisions of chapter 16 of the Kansas Statutes Annotated, and amendments thereto, to the contrary, or any other statute, there is no maximum interest rate or charge or usury rate restriction between or among a fiduc…

9-2324. Technology-enabled fiduciary financial institutions development and expansion fund; administration by secretary of commerce; purpose; interest earnings. (a) There is hereby established in the state treasury the technology-enabled fiduciary financial institutions developme…

9-2325. Pilot program; requirements; fees; distributions; conversion to full charter; report to certain committees of the legislature. (a) On July 1, 2021, the commissioner shall: (1) Grant a conditional fiduciary financial institution charter to the Beneficient company upon the …

9-2326. Trust interest not void or invalid by any common law rule. Notwithstanding the provisions of K.S.A. 59-3401, and amendments thereto, no interest held in a fidfin trust shall be void or invalid by reason of any common law rule, including, but not limited to, the rule again…

9-2327. Tax classification as determined under the federal internal revenue code. Notwithstanding the provisions of K.S.A. 17-2035, and amendments thereto, for purposes of any tax imposed by the state or any instrumentality, agency or political subdivision of this state, a busine…

9-2401. Citation of act; entities exempt therefrom. (a) K.S.A. 2025 Supp. 9-2401 through 9-2416, and amendments thereto, shall be known and may be cited as the Kansas earned wage access services act. (b) This act shall not apply to a: (1) Bank holding company regulated by the fed…

9-2402. Definitions. As used in K.S.A. 2025 Supp. 9-2401 through 9-2416, and amendments thereto: (a) "Act" means the Kansas earned wage access services act. (b) "Commissioner" means the state bank commissioner or the commissioner's designee, who shall be the deputy commissioner o…

9-2403. Registration; application; fee. (a) No person shall engage in or hold such person out as willing to engage in any earned wage access services business with a consumer without registering with the commissioner. Any person required to be registered as an earned wage access …

9-2404. Surety bond. Each applicant or registrant shall file with the commissioner a surety bond in a form acceptable to the commissioner. Such surety bond shall be issued by a surety or insurance company authorized to conduct business in this state, securing the applicant's or r…

9-2405. Registrant requirements. A provider that is registered in the state of Kansas shall be subject to the following requirements: (a) The registrant shall provide all proceeds on a non-recourse basis and shall treat all fees and non-mandatory payments as non-recourse payment …

9-2406. Prohibited acts. No person required to be registered under this act shall: (a) Compel or attempt to compel repayment by a consumer of outstanding proceeds or payments owed by such consumer to the registrant through any of the following means: (1) A civil suit against the …

9-2407. Earned wage access services not considered to be a loan or money transmission; act controls in conflict with other state law. (a) For purposes of the laws of this state: (1) Earned wage access services provided by a registrant in accordance with this chapter shall not be …

9-2408. Annual report; confidentiality; reportable events; penalty for failure to report. (a) (1) On or before April 1 of each year, each registrant shall file with the commissioner an annual report relating to earned wage access services provided by the registrant in this state …

9-2409. Records retention; examination; expenses. (a) Each registrant shall maintain and preserve complete and adequate business records, including a general ledger containing all assets, liabilities, capital, income and expense accounts for a period of three years. (b) Each regi…

9-2410. Denial, suspension or revocation of registration. The commissioner may deny, suspend, revoke or refuse to renew a registration issued pursuant to this act if the commissioner finds, after notice and opportunity for a hearing conducted in accordance with the provisions of …

9-2411. Powers of the commissioner to administer the act; rules and regulations; fingerprinting and criminal history record check. (a) The commissioner shall administer the provisions of this act. In addition to other powers granted by this act, the commissioner, within the limit…

9-2412. Violations of act; notice and hearing; orders; penalties; hearings. (a) If the commissioner determines after notice and opportunity for a hearing pursuant to the Kansas administrative procedure act that any person has engaged, is engaging or is about to engage in any act …

9-2413. Failure to obey subpoena. (a) In case of failure or refusal to obey a subpoena issued to any person, any court of competent jurisdiction, upon application by the commissioner, may issue an order requiring such person to appear before the commissioner, or the commissioner'…

9-2414. Criminal penalties for violations. It is unlawful for any person to violate the provisions of this act, any rules and regulations adopted or any order issued under this act. A conviction for an intentional violation is a class A nonperson misdemeanor. A second or subseque…

9-2415. Actions to enjoin any violation of the act. The commissioner, attorney general or a county or district attorney may bring an action in a district court to enjoin any violation of this act or any rules and regulations adopted thereunder. History: L. 2024, ch. 64, § 57; Jul…

9-2416. Disposition of fees. All fees collected by the commissioner pursuant to this act shall be subject to the provisions of K.S.A. 75-1308, and amendments thereto. History: L. 2024, ch. 64, § 58; July 1. Cross References to Related Sections: Bank commissioner fee fund, see 75-…