CHAPTER 19 SENATE BILL No. 498 An Act concerning banks and banking; relating to special orders issued by the bank com-
missioner; amending K.S.A. 1999 Supp. 9-1715 and repealing the existing section. Be it enacted by the Legislature of the State of Kansas:

      Section  1. K.S.A. 1999 Supp. 9-1715 is hereby amended to read as
follows: 9-1715. (a) The commissioner shall have the power to authorize
any or all state banks to engage in any activity in which such banks could
engage were they operating as national banks at the time such authority
is granted, including but without limitation because of enumeration the
power to do any act, and own, possess and carry as assets, property of
such character including stocks, bonds or other debentures which, at the
time authority is granted, is authorized under federal laws and regulations
to be done by national banks notwithstanding any restriction elsewhere
contained in the statutes of the state of Kansas. This power shall include
the power to authorize any or all Kansas trust companies to engage in
any trust related activity in which the trust department of a national bank
with trust powers could engage at the time authority is granted. This
power shall be in addition to any and all other powers granted to the
commissioner.

      (b) The commissioner shall exercise the power granted in subsection
(a) by the issuance of a special order if the commissioner deems it rea-
sonably required to preserve and protect the welfare of a particular in-
stitution, or if the commissioner deems it reasonably required to preserve
the welfare of all state banks or trust companies and to promote com-
petitive equality of state and national banks. Such special order shall pro-
vide for the effective date thereof and upon and after such date shall be
in full force and effect until amended or revoked by the commissioner.
Promptly following issuance, the commissioner shall cause a copy of each
special order to be mailed to all state banks and trust companies and shall
be published in the Kansas register.

      (c) The commissioner, at the time of issuing any special order pur-
suant to this section, shall prepare a written report, which shall include a
description of the special order and a copy of the special order, and submit
the written report to:

      (1) The president and the minority leader of the senate;

      (2) the chairperson and ranking minority member of the senate
standing committee on financial institutions and insurance;

      (3) the speaker and the minority leader of the house of representa-
tives;

      (4) the chairperson and ranking minority member of the house of
representatives standing committee on financial institutions; and

      (5) the governor.

      (d) Within two weeks of the beginning of each legislative session,
the commissioner shall submit to the chair of the senate standing com-
mittee on financial institutions and insurance, and the chair of the house
standing committee on financial institutions, a written summary of each
special order issued during the preceding year. Upon request of the chair
of the senate standing committee on financial institutions and insurance
or the chair of the house standing committee on financial institutions, the
commissioner, or the commissioner's designee, shall appear before the
committee to discuss any special order issued during the preceding year.
If the committee desires information concerning the economic impact of
any special order, the committee chair or ranking minority member may
request assistance from the division of budget.

      (e) The issuance of special orders under this section shall not be
subject to the provisions of article 4 of chapter 77 of the Kansas Statutes
Annotated.

      Sec.  2. K.S.A. 1999 Supp. 9-1715 is hereby repealed.

      Sec.  3. This act shall take effect and be in force from and after its
publication in the statute book.

Approved March 20, 2000.
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