Kansas Statutes 9-1920. Borrowing by liquidating bank
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Terms Used In Kansas Statutes 9-1920
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Upon the approval of the commissioner, the board of directors of any bank in the process of voluntary liquidation may borrow an amount not in excess of 100% of the bank’s total deposit liabilities and may pledge the bank’s assets.