Kansas Statutes 9-1604. Liquidation, termination of trust business
Current as of: 2023 | Check for updates
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Terms Used In Kansas Statutes 9-1604
- Trustee: A person or institution holding and administering property in trust.
Upon the affirmative vote of a majority of the outstanding voting stock, any bank having trust authority may terminate the bank’s trust business. The termination of trust services shall be done in accordance with the Kansas uniform trust code and with the contracting trustee provisions of Kan. Stat. Ann. § 9-2107, and amendments thereto. Any bank terminating the bank’s trust business may surrender such bank’s special permit for trust authority or be granted inactive status pursuant to Kan. Stat. Ann. § 9-1703, and amendments thereto.