Kansas Statutes 75-4226. Interest requirements not to be in violation of federal law
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Kansas Statutes 75-4226
- 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.
- Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
The interest requirements on investment accounts as provided in this act shall not at any time be in violation of any act of the congress of the United States, or of any rule or regulation of the federal reserve system or the federal deposit insurance corporation, or any other fiscal agency of the United States or created by it. Should the United States or any of its agencies at any time fix the maximum rate of interest which may be paid on investment accounts at an amount lower than the rate at which interest is required to be paid under the provisions of this act, such maximum rates fixed by the United States or its agencies shall become the rate at which interest shall be paid on such accounts.