CHAPTER 125 HOUSE BILL No. 2648 An  Act concerning the state treasurer; relating to unclaimed property; relating to state
moneys; relating to municipal bond program fees; amending K.S.A. 10-506, 10-603, 10-
627, 58-3955, 58-3956, 58-3965, 58-3968, 75-4203 and 75-4204 and K.S.A. 1999 Supp.
58-3934, 58-3935 and 58-3952 and repealing the existing sections.
Be it enacted by the Legislature of the State of Kansas:

      New Section  1. (a) Notwithstanding the provisions of subsection (b)
of K.S.A. 58-3953, and amendments thereto, United States savings bonds
which are unclaimed property and subject to the provisions of K.S.A. 58-
3934 et seq., and amendments thereto, shall escheat to the state of Kansas
three years after becoming unclaimed property and subject to the pro-
visions of K.S.A. 58-3934 et seq., and amendments thereto, and all prop-
erty rights to such United States savings bonds or proceeds from such
bonds shall vest solely in the state of Kansas.

      (b) Within 180 days after the three years in subsection (a), if no claim
has been filed in accordance with the provisions of K.S.A. 58-3934 et seq.,
and amendments thereto, for such United States savings bonds, the ad-
ministrator shall commence a civil action in the district court of Shawnee


county for a determination that such United States savings bonds shall
escheat to the state. The administrator may postpone the bringing of such
action until sufficient United States savings bonds have accumulated in
the administrators custody to justify the expense of such proceedings.

      (c) If no person shall file a claim or appear at the hearing to substan-
tiate a claim or where the court shall determine that a claimant is not
entitled to the property claimed by such claimant, then the court, if sat-
isfied by evidence that the administrator has substantially complied with
the laws of this state, shall enter a judgment that the subject United States
savings bonds have escheated to the state.

      (d) The administrator shall redeem such United States savings bonds
escheated to the state and the proceeds from such redemption of United
States savings bonds shall be deposited in the state general fund in ac-
cordance with the provisions of K.S.A. 58-3956, and amendments thereto.

      New Sec.  2. Any person making a claim for the United States savings
bonds escheated to the state under section 1, and amendments thereto,
or for the proceeds from such bonds, may file a claim in accordance with
the provisions of K.S.A. 58-3934, et seq., and amendments thereto. Upon
providing sufficient proof the validity of such person's claim, the admin-
istrator may pay such claim in accordance with the provisions of K.S.A.
58-3934 et seq., and amendments thereto.

      Sec.  3. K.S.A. 1999 Supp. 58-3934 is hereby amended to read as
follows: 58-3934. As used in this act:

      (a) ``Administrator'' means the state treasurer.

      (b) ``Apparent owner'' means the person whose name appears on the
records of the holder as the person entitled to property held, issued or
owing by the holder.

      (c) ``Business association'' means a corporation, joint-stock company,
investment company, partnership, unincorporated association, joint ven-
ture, limited liability company, business trust, trust company, land bank,
safe deposit company, safekeeping depository, financial organization, in-
surance company, mutual fund, utility or, other business entity consisting
of one or more persons, whether or not for profit or the United States
government or any agency or subdivision thereof.

      (d) ``Domicile'' means the state of incorporation of a corporation and
the state of the principal place of business of a holder other than a cor-
poration.

      (e) ``Financial organization'' means a savings and loan association,
building and loan association, savings bank, industrial bank, bank, banking
organization or credit union.

      (f) ``Holder'' means a person obligated to hold for the account of, or
deliver or pay to, the owner property that is subject to this act.

      (g) ``Insurance company'' means an association, corporation, fraternal
or mutual benefit organization, whether or not for profit, engaged in the
business of providing life endowments, annuities or insurance, including
accident, burial, casualty, credit life, contract performance, dental, disa-
bility, fidelity, fire, health, hospitalization, illness, life, malpractice, ma-
rine, mortgage, surety, wage protection and workers compensation in-
surance.

      (h) ``Last known address'' means a description of the location of the
apparent owner sufficient for the purpose of the delivery of mail.

      (i) ``Mineral'' means oil, gas, uranium, sulphur, lignite, coal and any
other substance that is ordinarily and naturally considered a mineral, re-
gardless of the depth at which the oil, gas, uranium, sulphur, lignite, coal
or other substance is found.

      (j) ``Mineral proceeds'' means amounts payable for the extraction,
production or sale of minerals, or, upon abandonment of those payments,
all payments that become payable thereafter. The term includes amounts
payable:

      (1) For the acquisition and retention of a mineral lease, including
bonuses, royalties, compensatory royalties, shut-in royalties, minimum
royalties and delay rentals;

      (2) for the extraction, production or sale of minerals, including net
revenue interests, royalties, overriding royalties, extraction payments and
production payments; and

      (3) under an agreement or option, including a joint operating agree-
ment, unit agreement, pooling agreement and farm-out agreement.

      (k) ``Money order'' includes an express money order and a personal
money order, on which the remitter is the purchaser. The term does not
include a bank money order or any other instrument sold by a financial
organization if the seller has obtained the name and address of the payee.

      (l) ``Owner'' means a person who has a legal or equitable interest in
property subject to this act or the person's legal representative. The term
includes a depositor in the case of a deposit, a beneficiary in the case of
a trust other than a deposit in trust and a creditor, claimant or payee in
the case of other property.

      (m) ``Person'' means an individual, business association, financial or-
ganization, estate, trust, state or other government, governmental sub-
division, agency or instrumentality or any other legal or commercial entity.

      (n) ``Property'' means tangible property described in K.S.A. 58-3939
and amendments thereto, or a fixed and certain interest in intangible
property that is held, issued or owed in the course of a holder's business,
or by a state or other government, governmental subdivision, agency or
instrumentality and all income or increments therefrom. The term in-
cludes property that is referred to as or evidenced by:

      (1) Money, a check, draft, deposit, interest or dividend;

      (2) credit balance, customer's overpayment, security deposit, refund,
credit memorandum, unpaid wage, mineral proceeds or unidentified re-
mittance;

      (3) stock or other evidence of ownership of an interest in a business
association or financial organization;

      (4) a bond, debenture, note or other evidence of indebtedness;

      (5) money deposited to redeem stocks, bonds, coupons or other se-
curities or to make distributions;

      (6) an amount due and payable under the terms of an annuity or
insurance policy, including policies providing life insurance, property and
casualty insurance, workers compensation insurance or health and disa-
bility insurance; and

      (7) an amount distributable from a trust or custodial fund established
under a plan to provide health, welfare, pension, vacation, severance,
retirement, death, stock purchase, profit sharing, employee savings, sup-
plemental unemployment insurance or similar benefits.

      (o) ``Record'' means information that is inscribed on a tangible me-
dium or that is stored in an electronic or other medium and is retrievable
in a perceivable form.

      (p) ``State'' means any state of the United States, the District of Co-
lumbia, the commonwealth of Puerto Rico or any territory, insular pos-
session or any other area subject to the jurisdiction of the United States.

      (q) ``Utility'' means a person who owns or operates for public use any
plant, equipment, property, franchise or license for the transmission of
communications or the production, storage, transmission, sale, delivery
or furnishing of electricity, water, steam or gas.

      Sec.  4. K.S.A. 1999 Supp. 58-3935 is hereby amended to read as
follows: 58-3935. (a) Property is presumed abandoned if it is unclaimed
by the apparent owner during the time set forth below for the particular
property:

      (1) Traveler's check, 15 years after its issuance;

      (2) money order, seven years after issuance;

      (3) except as provided in K.S.A. 58-3943, and amendments thereto,
stock or other equity interest in a business association or financial organ-
ization, including a security entitlement under article 8 of the uniform
commercial code, five years after the earlier of:

      (A) The date of the most recent dividend, stock split or other distri-
bution unclaimed by the apparent owner; or

      (B) the date of the second mailing of a statement of account or other
notification or communication that was returned as undeliverable or after
the holder discontinued mailings, notifications or communications to the
apparent owner;

      (4) debt of a business association or financial organization, other than
a bearer bond or an original issue discount bond, five years after the date
of the most recent interest payment unclaimed by the apparent owner;

      (5) a demand, savings or time deposit, including a deposit that is
automatically renewable, five years after the earlier of maturity or the
date of the last indication by the owner of interest in the property, except
that a deposit that is automatically renewable is deemed matured for
purposes of this section upon its initial date of maturity, unless the owner
has consented to a renewal at or about the time of the renewal and the
consent is in writing or is evidenced by a memorandum or other record
on file with the holder;

      (6) money or credits owed to a customer as a result of a retail business
transaction, five years after the obligation accrued;

      (7) amount owed by an insurer on a life or endowment insurance
policy or an annuity that has matured or terminated, three years after the
obligation to pay arose or, in the case of a policy or annuity payable upon
proof of death, three years after the insured has attained, or would have
attained if living, the limiting age under the mortality table on which the
reserve is based;

      (8) property distributable by a business association or financial or-
ganization in a course of dissolution, one year after the property becomes
distributable;

      (9) property received by a court as proceeds of a class action, and not
distributed pursuant to the judgment, one year after the distribution date;

      (10) property held by a court, state or other government, govern-
mental subdivision, agency or instrumentality, one year after the property
becomes distributable;

      (11) wages or other compensation for personal services, one year after
the compensation becomes payable;

      (12) deposit or refund owed to a subscriber by a utility, one year after
the deposit or refund becomes payable;

      (13) property held by agents and fiduciaries in a fiduciary capacity
for the benefit of another person, five years after it has become payable
or distributable, unless the owner has increased or decreased the prin-
cipal, accepted payment of principal or income, communicated concern-
ing the property or otherwise indicated an interest as evidenced by a
memorandum or other record on file prepared by the fiduciary;

      (14) property in an individual retirement account, defined benefit
plan or other account or plan that is qualified for tax deferral under the
income tax laws of the United States, three years after the earliest of the
date of the distribution or attempted distribution of the property, the
date of the required distribution as stated in the plan or trust agreement
governing the plan, or the date, if determinable by the holder, specified
in the income tax laws of the United States by which distribution of the
property must begin in order to avoid a tax penalty;

      (15) all other property, five years after the owner's right to demand
the property or after the obligation to pay or distribute the property arises,
whichever first occurs; and

      (16) any proceeds of a sale pursuant to K.S.A. 58-817, and amend-
ments thereto, which remain after satisfaction of the lien provided by
K.S.A. 58-816, and amendments thereto, that have been unclaimed by
the owner for one year from receipt of the proceeds of the sale and
satisfaction of the lien.

      (b) At the time that an interest is presumed abandoned under sub-
section (a) any other property right accrued or accruing to the owner as
a result of the interest, and not previously presumed abandoned, is also
presumed abandoned.

      (c) Property is unclaimed if, for the applicable period set forth in
subsection (a), the apparent owner has not communicated in writing or
by other means reflected in a contemporaneous record prepared by or
on behalf of the holder, with the holder concerning the property or the
account in which the property is held, and has not otherwise indicated
an interest in the property. A communication with an owner by a person
other than the holder or the holder's representative who has not in writing
identified the property to the owner is not an indication of interest in the
property by the owner.

      (d) An indication of an owner's interest in property includes:

      (1) The presentment of a check or other instrument of payment of a
dividend or other distribution made with respect to an account or un-
derlying stock or other interest in a business association or financial or-
ganization or, in the case of a distribution made by electronic or similar
means, evidence that the distribution has been received;

      (2) owner-directed activity in the account in which the property is
held, including a direction by the owner to increase, decrease or change
the amount or type of property held in the account;

      (3) the making of a deposit to or withdrawal from a bank account;
and

      (4) the payment of a premium with respect to a property interest in
an insurance policy, except that the application of an automatic premium
loan provision or other nonforfeiture provision contained in an insurance
policy does not prevent a policy from maturing or terminating if the in-
sured has died or the insured or the beneficiary of the policy has otherwise
become entitled to the proceeds before the depletion of the cash surren-
der value of a policy by the application of those provisions.

      (e) Property is payable or distributable for the purpose of this act
notwithstanding the owner's failure to make demand or to present any
instrument or document otherwise required to obtain payment.

      (f) Any demand or savings account or matured timed deposit with a
financial organization shall not be presumed abandoned if regular cor-
respondence to an owner of the account has not been returned to the
sender.

      (g) Any outstanding check, draft, credit balance, customer's overpay-
ment or unidentified remittance issued to a sole proprietorship or busi-
ness association as part of a commercial transaction in the ordinary course
of a holder's business shall not be presumed abandoned.

      (h) A holder may not impose with respect to any property payable or
distributable for the purpose of this act, including any income or incre-
ment derived therefrom, any fee or charge due to dormancy or inactivity
or cease payment of interest unless:

      (1) There is an enforceable written contract between the holder and
the owner of the property pursuant to which the holder may impose a
charge or cease payment of interest;

      (2) for property in excess of $100, the holder, no more than three
months before the initial imposition of those charges or cessation of in-
terest, has mailed written notice to the owner of the amount of those
charges at the last known address of the owner stating that those charges
will be imposed or that interest will cease, but the notice provided in this
section need not be given with respect to charges imposed or interest
ceased before the effective date of this act, or for property described in
K.S.A. 58-3937 and 58-3938, and amendments thereto; and

      (3) the holder regularly imposes such charges or ceases payment of
interest and in no instance reverses or otherwise cancels them or retro-
actively credits interest with respect to the property. Charges imposed
because of dormancy or inactivity may be made and collected monthly,
quarterly or annually except that beginning with the effective date of this
act, such charges may only be imposed for a maximum of five calendar
years.

      (i) For the purpose of this section, a person who holds property as
an agent for a business association is deemed to hold the property in a
fiduciary capacity for that business association alone unless the agreement
between the agent and the business association provides otherwise.

      (j) For the purposes of this act, a person who is deemed to hold
property in a fiduciary capacity for a business association alone is the
holder of the property only insofar as the interest of the business asso-
ciation in the property is concerned, and the business association is the
holder of the property insofar as the interest of any other person in the
property is concerned.

      (k) Any property held by a financial organization that would other-
wise be presumed abandoned under this section shall not be presumed
abandoned if the apparent owner:

      (1) Owns other property which is not presumed abandoned and if
the financial organization communicates in writing with the owner with
regard to the property that would otherwise be presumed abandoned
under this section at the address to which communications regarding the
other property regularly are sent; or

      (2) had another relationship with the financial organization concern-
ing which the owner has:

      (A) Communicated in writing with the financial organization; or

      (B) otherwise indicated an interest as evidenced by a memorandum
or other record on file prepared by an employee of the financial organi-
zation and if the financial organization communicates in writing with the
owner with regard to the property that would otherwise be abandoned
under this section at the address to which communications regarding the
other relationship regularly are sent.

      Sec.  5. K.S.A. 1999 Supp. 58-3952 is hereby amended to read as
follows: 58-3952. (a) At the time of the filing of the report required by
subsection (d) of K.S.A. 58-3950 and amendments thereto and with that
report, the holder of property presumed abandoned shall pay, deliver or
cause to be paid or delivered to the administrator the property described
in the report as unclaimed, but if, at the time provided for delivery of the
property is an automatically renewable deposit and a penalty or forfeiture
in the payment of interest would result, the time for compliance is ex-
tended until a penalty or forfeiture would no longer result.

      (b) If the property reported to the administrator is a security or se-
curity entitlement under article 8 of the uniform commercial code, the
administrator is an appropriate person to make an endorsement, instruc-
tion or entitlement order on behalf of the apparent owner to invoke the
duty of the issuer or its transfer agent or the securities intermediary to
transfer or dispose of the security or the security entitlement in accord-
ance with article 8 of the uniform commercial code.

      (c) If the holder of property reported to the administrator is the issuer
of a certificated security, the administrator has the right to obtain a re-
placement certificate pursuant to K.S.A. 84-8-405, and amendments
thereto, but an indemnity bond is not required.

      (d) An issuer, the holder and any transfer agent or other person acting
pursuant to the instructions of and on behalf of the issuer or holder in
accordance with this section is not liable to the apparent owner and must
be indemnified against claims of any person in accordance with K.S.A.
58-3953 and amendments thereto for any loss or damage caused by the
transfer, issuance and delivery of the certificate or security to the admin-
istrator.

      (e) A holder is required to deliver property reported as aggregate
under K.S.A. 58-3950, and amendments thereto, only if the total amount
of the aggregate property reported exceeds $250.

      Sec.  6. K.S.A. 58-3955 is hereby amended to read as follows: 58-
3955. (a) Except as provided in subsections (b) and (c), the administrator,
within three years after the receipt of abandoned property, shall sell it to
the highest bidder at public sale in whatever city in the state affords in
the judgment of the administrator the most favorable market for the prop-
erty involved. The administrator may decline the highest bid and reoffer
the property for sale if in the judgment of the administrator the bid is
insufficient. If in the judgment of the administrator the probable cost of
sale exceeds the value of the property, the property need not be offered
for sale. Any sale held under this section shall be preceded by a single
publication of notice, at least three weeks in advance of sale, in a news-
paper of general circulation in the county in which the property is to be
sold.

      (b) Securities listed on an established stock exchange shall be sold at
prices prevailing at the time of sale on the exchange. Other securities may
be sold over the counter at prices prevailing at the time of sale or by any
other method the administrator considers advisable.

      (c) Unless the administrator considers it to be in the best interest of
the state to do otherwise, all securities, other than those presumed aban-
doned under K.S.A. 58-3943 and amendments thereto, delivered to the
administrator shall be held for at least one year before they may be sold.

      (d) Unless the administrator considers it to be in the best interest of
the state to do otherwise, all

      (c) All securities presumed abandoned under K.S.A. 58-3943 and
amendments thereto and delivered to the administrator shall be held for
at least three years six months before they may be sold. If the adminis-
trator sells any securities delivered pursuant to K.S.A. 58-3943 and
amendments thereto before the expiration of the three-year period, any
person making a claim pursuant to this act before the end of the three-
year period is entitled to either the proceeds of the sale of the securities
or the market value of the securities at the time the claim is made, which-
ever amount is greater, less any deduction for fees pursuant to subsection
(b) of K.S.A. 58-3956 and amendments thereto All securities must be sold
within one year after they are delivered to the administrator. A person
making a claim under this act after the expiration of this period is entitled
to receive either the securities delivered to the administrator by the
holder, if they still remain in the hands of the administrator, or the pro-
ceeds received from the sale, less any amounts deducted pursuant to
subsection (b) of K.S.A. 58-3956, and amendments thereto, but no person
has any claim under this act against the state, the holder, any transfer
agent, registrar or other person acting for or on behalf of a holder for any
appreciation in the value of the property occurring after delivery by the
holder to the administrator.

      (e) (d) The purchaser of property at any sale conducted by the ad-
ministrator pursuant to this act takes the property free of all claims of the
owner or previous holder thereof and of all persons claiming through or
under them. The administrator shall execute all documents necessary to
complete the transfer of ownership.

      Sec.  7. K.S.A. 58-3956 is hereby amended to read as follows: 58-
3956. (a) Except as otherwise provided by this section, the administrator
shall promptly deposit in the state general fund all funds received under
this act, including the proceeds, from the sale of abandoned property
under K.S.A. 58-3955 and amendments thereto, and the proceeds from
the redemption of United States savings bonds under section 1, and
amendments thereto. The unclaimed property claims fund is hereby cre-
ated in the state treasury. The administrator shall credit moneys to the
unclaimed property claims fund sufficient for the prompt payment of
claims duly allowed by the administrator. The unclaimed property claims
fund shall be in an amount of not less than $100,000. Before making the
deposit, the administrator shall record the name and last known address
of each person appearing from the holders' reports to be entitled to the
property and the name and last known address of each insured person or
annuitant and beneficiary and with respect to each policy or contract
listed in the report of an insurance company its number, the name of the
company and the amount due. The record shall be available for public
inspection at all reasonable business hours.

      (b) Before making any deposit to the credit of the state general fund,
the administrator may deduct and credit to the unclaimed property ex-
pense fund which is hereby created in the state treasury:

      (1) Any costs in connection with the sale of abandoned property;

      (2) costs of mailing and publication in connection with any abandoned
property;

      (3) operating expenses; and

      (4) costs incurred in examining records of holders of property and in
collecting the property from those holders.

      Sec.  8. K.S.A. 58-3965 is hereby amended to read as follows: 58-
3965. (a) The administrator, for and on behalf of this state, may com-
mence an action in a district court of Kansas:

      (1) For an adjudication that certain property is unclaimed and paya-
ble or distributable to the administrator;

      (2) to compel presentation of a report or payment or distribution of
property to the administrator;

      (3) to enforce the duty of a person to permit the examination or audit
of the records of that person;

      (4) to enjoin any act that violates the public policy or provisions of
this act; or

      (5) to enforce any aspect of this act in any manner.

      (b) The administrator may commence such an action in the following
situations:

      (1) The holder is a person domiciled in this state or is a governmental
entity of this state;

      (2) the holder is a person engaged in or transacting any business in
this state, although not domiciled in this state; or

      (3) the subject matter is tangible personal property held in this state.

      (c) The administrator, for and on behalf of this state, may commence
an action against the United States government or any agency or subdi-
vision thereof for an adjudication that the proceeds of United States sav-
ings bonds subject to the provisions of K.S.A. 58-3934, et seq., and amend-
ments thereto, are payable to the administrator.

      (c) (d) In a situation where no district court in this state can obtain
jurisdiction over the person involved, the administrator may commence
such an action in a federal court or state court of another state having
jurisdiction over that person.

      (d) (e) The administrator shall be deemed an indispensable party to
any judicial or administrative proceedings concerning the disposition and
handling of unclaimed property that is or may be payable or distributable
into the protective custody of the administrator. The administrator shall
have a right to intervene and participate in any judicial or administrative
proceeding when to do so will be in the best interest of this state, the
apparent owner or the unclaimed property or to conserve and safeguard
the unclaimed property against dissipation, undue diminishment or ad-
verse discriminatory treatment.

      Sec.  9. K.S.A. 58-3968 is hereby amended to read as follows: 58-
3968. (a) All agreements to pay compensation to recover or assist in the
recovery of property reported under K.S.A. 58-3950, and amendments
thereto, made within 24 months after the date payment or delivery is
made under K.S.A. 58-3952, and amendments thereto, are unenforcea-
ble.

      (b) All agreements to pay compensation to recover or assist in the
recovery of property reported under K.S.A. 58-3950, and amendments
thereto, made more than 24 months after the date payment or delivery
is made under K.S.A. 58-3952, and amendments thereto, are unenfor-
ceable if the fee or compensation agreed upon is in excess of 15% of the
value of the recoverable property. The administrator may require a third
party seeking information concerning unclaimed property held for an ap-
parent owner to provide a copy of an agreement signed by the claimant
before releasing any information to the third party.

      (c) State warrants that may be issued in payment for and redemption
of recoverable property may be issued, in the discretion of the adminis-
trator, directly to the rightful owners or, as fiduciary of the estate of a
deceased owner, to an heir or legatee, and not to a named attorney in
fact, agent, assignee or other person regardless of written instructions to
the contrary.

      Sec.  10. On and after July 1, 2000, K.S.A. 75-4203 is hereby
amended to read as follows: 75-4203. The treasurer shall prepare daily
deposits in accordance with K.S.A. 75-4206, and amendments thereto.
The director of accounts and reports treasurer shall prepare and provide
a form upon which all daily deposits shall be listed in sufficient detail to
make effective the purposes of this act, and such form shall be called
``daily deposit form.'' the ``daily cash sheet.'' The daily deposit form cash
sheet shall be completed in sufficient copies, and there shall be delivered
daily one copy thereof to the director of accounts and reports and one
copy shall be retained by the treasurer. Before any deposit of state moneys
is made, each copy of the daily deposit form cash sheet shall be signed
by the treasurer or a deputy duly authorized by the treasurer.

      Sec.  11. On and after July 1, 2000, K.S.A. 75-4204 is hereby
amended to read as follows: 75-4204. All orders of the treasurer trans-
ferring moneys from one state bank account to another shall be signed
both by the treasurer or the treasurer's duly authorized deputy and di-
rector of accounts and reports or the director's duly authorized assistant.

      Sec.  12. On and after July 1, 2000, K.S.A. 10-506 is hereby amended
to read as follows: 10-506. The state treasurer shall open an account on
his or her books, to be known as the ``fiscal agency commission fund,'' to
which shall be credited deposit all sums received under the provisions of
K.S.A. 10-505. At the end of the fiscal year all sums credited to this fund
shall be turned into the general revenue fund of the state, and amend-
ments thereto, in the state treasury and credit it to the bond services fee
fund established under K.S.A. 10-108, and amendments thereto.

      Sec.  13. On and after July 1, 2000, K.S.A. 10-603 is hereby amended
to read as follows: 10-603. On the maturity of any registered bond, it shall
be forwarded by the holder to the state treasurer, who shall collect the
same and pay the proceeds to the last registered holder thereof. All fees
collected under the provisions of this act shall be deposited in the state
treasury and credited to the general fund of the state bond services fee
fund established under K.S.A. 10-108, and amendments thereto.

      Sec.  14. On and after July 1, 2000, K.S.A. 10-627 is hereby amended
to read as follows: 10-627. The transfer agent may charge to the presentor
of a bond a transfer fee in an amount not to exceed the amount fixed by
the state treasurer. The state treasurer shall fix the amount of the fee on
July 1, 1983, and may adjust the amount annually thereafter. All fees
collected by the state treasurer under the provisions of the Kansas bond
registration law shall be deposited in the state treasury and credited to
the bond services fee fund established under K.S.A. 10-108, and amend-
ments thereto.

      Sec.  15. K.S.A. 58-3955, 58-3956, 58-3965 and 58-3968 and K.S.A.
1999 Supp. 58-3934, 58-3935 and 58-3952 are hereby repealed.

      Sec.  16. On and after July 1, 2000, K.S.A. 10-506, 10-603, 10-627,
75-4203 and 75-4204 are hereby repealed.

      Sec.  17. This act shall take effect and be in force from and after its
publication in the Kansas register.

Approved April 20, 2000.
 Published in the Kansas Register April 27, 2000.
__________