Kansas Statutes 9-1702. Examination of fiduciaries and affiliated organizations and their officers and employees
Terms Used In Kansas Statutes 9-1702
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiduciary: A trustee, executor, or administrator.
(a) The commissioner or the commissioner’s staff is hereby authorized to examine the fiduciary affairs of any officer or employee of any bank or trust company when such officer or employee is serving in any fiduciary capacity that may affect the safety and soundness of such bank or trust company.
(b) The commissioner or the commissioner’s staff is hereby authorized to examine any investment company, holding company, corporation or any other form of business entity which is affiliated with any bank or trust company to fully ascertain:
(1) The relationship between such bank or trust company and any such affiliate; and
(2) the effect of such relationship on the bank or trust company.
(c) For the purposes of this section, “affiliate” shall have the meaning ascribed to it in section 2 of the bank holding act of 1956, 12 U.S.C. § 1841.