State of Kansas
State Bank Commissioner
Special Order 1990-3
This Order is issued on this 19th day of November, 1990, by the State Bank Commissioner, with the prior approval of the State Banking Board.
Whereas, under Kansas statutes, state banks are not authorized to become members of Federal Home Loan Banks.
Whereas, 12 U.S.C. § 1424 permits national banks to become members of Federal Home Loan Banks.
Whereas, K.S.A. 9-1715(b) authorizes the State Bank Commissioner, with the prior approval of the State Banking Board, to permit state banks to engage in any activity permissible for national banks.
Whereas, the Commissioner and the State Banking Board deem the issuance of this special order is reasonably required to preserve and protect the welfare of state banks and to promote competitive equality of state and national banks.
Wherefore, it is ordered that state banks may become members of Federal Home Loan Banks as provided by 12 U.S.C. § 1424 and other applicable federal laws.
It is so ordered.
State Bank Commissioner
W. Newton Male
