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From Banking and Finance Law Daily, April 18, 2013

STATE BANKING LAWS—Kansas Amends Banking Code to Allow Collection of Fees

By Stephanie K. Mann, J.D.

The Kansas legislature has amended the Banking Code to allow for changes in the fees that the Commissioner of the Division of Banking may collect. The commissioner may now charge a fee for a letter of good standing by issuing rules and regulations establishing the amount. The commissioner may further adopt rules and regulations to establish a fee for the commissioner’s approval of a revenue bond. Additionally, for any public hearing held pursuant to an application to the banking commissioner, the applicant will be responsible for all actual costs associated with the hearing.

The new amendments to the Kansas Banking Code state the amount of fees that the applicant shall pay to the Office of the State Banking Commissioner with each applicant. The fees laid out in the legislation are subject to change pursuant to the commissioner’s discretion to increase or decrease the fees. However, the increase may not be more than 150 percent of the fees specified in the legislation.

The applicant may additionally be required to pay the commissioner for any additional costs associated with examination or investigation if the commissioner requires that an on-site examination of the financial institutions is necessary to consider any application filed with the Office of the State Banking Commissioner.

The law (S.B. 129) was approved April 16, 2013, and is effective upon publication in the state statute book—usually July 1 of each year.

LegislativeActivity: KansasNews StateBankingLaws

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