Memo RM1999-3
To: All State-Chartered Banks and Trust Companies
From: Judi Stork, Acting Bank Commissioner
Date: June 9, 1999
Enclosed please find Special Order 1999-1. This Special Order grants state banks the authority to pledge assets to collateralize the deposits of federally-recognized Indian tribes. Prior to issuance of the Special Order, national banks had such authority, but Kansas law did not clearly provide that authority to state-chartered banks. Issuance of this Special Order was deemed necessary to eliminate the competitive inequity created by discrepancies between the laws governing state and national banks operating in this state.
For ease of future reference, you can insert the Special Order in your Kansas Banking Lawbook behind the "Special Orders" tab. Should you have any questions, feel free to contact this office.
