9-2320 Privacy; protection in court proceedings; exception.
9-2320. Privacy; protection in court proceedings; exception. The privacy of those who have established a fidfin trust or alternative asset custody account shall be protected in any court proceeding concerning such trust if the acting trustee, custodian, trustor or any beneficiary so petition the court. Upon the filing of such a petition, the instrument, inventory, […]
9-2321 Forms; definition; request for review; review not approval or endorsement.
9-2321. Forms; definition; request for review; review not approval or endorsement. (a) For purposes of this section, “form” includes: (1) An instrument as defined in K.S.A. 2021 Supp. 9-2301, and amendments thereto; (2) a transaction agreement between a fiduciary financial institution and a fidfin trust; (3) any other documents executed by a fiduciary financial institution […]
9-2306 Board of directors; membership; annual meeting; oath; notification of commissioner.
9-2306. Board of directors; membership; annual meeting; oath; notification of commissioner. (a) The business of any fiduciary financial institution shall be managed and controlled by such fiduciary financial institution’s board of directors. (b) The board shall consist of not less than five nor more than 25 members who shall be elected by the members at […]
9-2307 Report to commissioner; safety and soundness.
9-2307. Report to commissioner; safety and soundness. (a) A fiduciary financial institution shall make a report to the commissioner pursuant to the provisions of K.S.A. 9-1704, and amendments thereto. In making such a report, a fiduciary financial institution shall: (1) Report the fiduciary financial institution’s fidfin transactions pursuant to generally accepted accounting principles; and (2) […]
9-2308 Name of institution; advertising; restrictions.
9-2308. Name of institution; advertising; restrictions. A fiduciary financial institution may use in such fiduciary financial institution’s business name or advertising the words “fiduciary financial institution” or any similar term or phrase, but may not use in such institution’s name the words “bank” or “trust company” without reference to fidfin trusts or any other term […]
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 […]
9-2216a Annual written report; penalty; information confidential.
9-2216a. Annual written report; penalty; information confidential. (a) Each licensee shall annually, on or before April 1, file a written report with the commissioner containing the information that the commissioner may reasonably require concerning the licensee’s business and operations during the preceding calendar year. The report shall be made in the form prescribed by the […]
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 […]