State of Kansas
State Bank Commissioner
Special Order 1975-2
This Order issued this 17th day of November, 1975, by the State Banking Commissioner, with the prior approval of the State Banking Board.
Whereas, under State Statutes, State Banks are not authorized to maintain Postal Services Substations; and,
Whereas, by regulations by the Board of Governors of the Federal Reserve System, said regulation being entitled Miscellaneous Interpretive rulings No. 7.7482, National Banks are now authorized to maintain and operate Postal Substations; and,
Whereas, K.S.A. 9-1715 provides the State Banking Commissioner with the prior approval of the Banking Board may authorize State Banks to engage in those activities that they could do if they were operating as a National Bank; and
Whereas, the Commissioner deems it reasonably required to preserve and protect the welfare of State Banks and to promote the competitive equality of State and National Banks to allow State Banks to maintain and operate Postal Substations.
Now therefore, it is hereby ordered by the State Banking Commissioner, with the prior approval of the State Banking Board, that a bank may maintain and operate a postal substation on banking premises and receive income therefrom. The services performed by the substation may include meter stamping of letters and packages and the sale of related insurance. The bank may advertise, develop, and extend the services of the substation for the purpose of attracting customers to the bank.
The operations of the postal substation shall be in accordance with the rules and regulations of the United States Postal Service. The books and records of the substation shall be kept separate from those of other banking operations, Under 39 U.S.C. 705 and regulations issued pursuant thereto, the United States Postal Service may inspect the books and records of the substation.
This Special Order shall be effective November 17, 1975.
It is so ordered.
State Bank Commissioner
Arthur Gabriel
