9-2323 No maximum interest rate or charge.
9-2323. No maximum interest rate or charge. Notwithstanding the provisions of chapter 16 of the Kansas Statutes Annotated, and amendments thereto, to the contrary, or any other statute, there is no maximum interest rate or charge or usury rate restriction between or among a fiduciary financial institution and a fidfin trust if the interest rate […]
9-2324 Technology-enabled fiduciary financial institutions development and expansion fund; administration by secretary of commerce; purpose; interest earnings.
9-2324. Technology-enabled fiduciary financial institutions development and expansion fund; administration by secretary of commerce; purpose; interest earnings. (a) There is hereby established in the state treasury the technology-enabled fiduciary financial institutions development and expansion fund to be administered by the secretary of commerce. Expenditures from the fund shall be for the purposes of distributing to […]
9-2309 Maintaining suitable office space; requirements; staffing; maintenance of records.
9-2309. Maintaining suitable office space; requirements; staffing; maintenance of records. (a) A fiduciary financial institution shall: (1) Maintain suitable office space in an economic growth zone, as defined in K.S.A. 2021 Supp. 9-2301, and amendments thereto, for fidfin transactions, custodial services and trust business and for the storage of, and access to, fiduciary financial institution […]
9-2310 General powers.
9-2310. General powers. (a) Any fiduciary financial institution is hereby authorized to exercise by its board of directors or duly authorized officers or agents, subject to law, the following powers: (1) To engage in fidfin transactions in accordance with K.S.A. 2021 Supp. 9-2311, and amendments thereto; (2) to receive, retain and manage alternative asset custody […]
9-2311 Financing; required distribution amount; schedules; remittance of moneys.
9-2311. Financing; required distribution amount; schedules; remittance of moneys. (a) If authorized by the terms of an instrument as such term is defined in K.S.A. 2021 Supp. 9-2301, and amendments thereto, a fiduciary financial institution may: (1) Extend financing or extensions of credit to a fidfin trust when: (A) The fiduciary financial institution serves as […]
9-2312 Authorized functions; parties engaged by an institution; services to residents of other states.
9-2312. Authorized functions; parties engaged by an institution; services to residents of other states. (a) Subject to the requirements of K.S.A. 2021 Supp. 9-2309(d), and amendments thereto, a fiduciary financial institution may: (1) Employ attorneys, accountants, investment advisors, agents or other persons, even if they are affiliated or associated with the fiduciary financial institution, to […]
9-2313 Custodial services; requirements.
9-2313. Custodial services; requirements. (a) A fiduciary financial institution may serve as a custodian, which may include serving as a qualified custodian, as defined by the United States securities and exchange commission in 17 C.F.R. § 275.206(4)-2, of an asset custody account. In performing custodial services under this section, a fiduciary financial institution shall: (1) […]
9-2314 Trust advisor; rights, powers, immunities and liabilities.
9-2314. Trust advisor; rights, powers, immunities and liabilities. Any instrument providing for a trust advisor may also provide such trust advisor with some, none or all of the rights, powers, privileges, benefits, immunities or authorities available to a trustee under Kansas law or under such instrument. Unless the instrument provides otherwise, a trust advisor has […]
9-2315 Excluded fiduciary; actions not liable for; relieved of certain duties; deemed administrative actions.
9-2315. Excluded fiduciary; actions not liable for; relieved of certain duties; deemed administrative actions. (a) An excluded fiduciary is not liable, either individually or as a fiduciary, for any of the following: (1) Any loss that results from compliance with a direction of the trust advisor, including any loss from the trust advisor breaching fiduciary […]
9-2301 Citation of act; definitions.
9-2301. Citation of act; definitions. (a) The provisions of K.S.A. 2021 Supp. 9-2301 through 9-2327, and amendments thereto, shall be known and may be cited as the technology-enabled fiduciary financial institutions act. The technology-enabled fiduciary financial institutions act shall be a part of and supplemental to chapter 9 of the Kansas Statutes Annotated, and amendments […]