Memo RM2000-1
To: All Kansas State Chartered Banks and Trust Companies
From: Franklin W. Nelson, Bank Commissioner
Date: April 21, 2000
RE: Issuance of Special Orders
Enclosed please find two Special Orders I have issued this week.
Special Order 2000-1 grants state chartered banks the authority to form financial subsidiaries to engage in certain activities. This power was granted to national banks in the Gramm-Leach-Bliley Act, Public law 106-102. The criteria for forming such subsidiaries, the activities allowed, and the procedure for receiving approval from this office are all detailed in the Special Order.
Special Order 2000-2 was issued to ensure that state chartered banks have authority to invest without limit in obligations of the government sponsored enterprises listed in the Order.
Please feel free to contact our office with questions or comments concerning either of these Orders. As always, we thank you for maintaining a state charter.
