State of Kansas
State Bank Commissioner
Special Order 1984-1
This Order issued this 29th day of October, 1984, by the State Bank Commissioner with the prior approval of the State Banking Board.
Whereas, under the Comptroller's Handbook for National Trust Examiners, paragraph 9.1300, national banks are authorized to perform or purchase trust services for or from a bank or service corporation through a trust services agency agreement; and,
Whereas, under Kansas statutes, neither state banks nor trust companies are authorized to perform or purchase trust services for or from a bank or service corporation; and,
Whereas, K.S.A. 9-1715(b) provides the state bank commissioner may, with prior approval of the state banking board, authorize state banks or trust companies to engage in any activity in which such banks or trust companies could engage were they operating as national banks; and,
Whereas, the Commissioner and the State Banking Board deem it reasonably required to preserve and protect the welfare of state banks or trust companies and to promote competitive equality of state and national banks.
Now therefore, it is hereby ordered that state banks with trust powers and trust companies may either perform or purchase trust services for or from a bank or service corporation through a trust service agency agreement. State banks with trust powers and trust companies which undertake to purchase or perform such services shall notify the state bank commissioner of the existence of a service relationship within 30 days after contracting for the service. Such notification shall include: trust services provided, name of the servicer, and the date the service will commence.
This Special Order shall take effect October 29, 1984.
It is so ordered.
State Bank Commissioner
Eugene C. Hegarty
