State of Kansas
State Bank Commissioner
Special Order 1999-1
This Order is hereby issued this 8th day of June, 1999 by the state bank commissioner.
Whereas, pursuant to 12 U.S.C. §90, any national banking association may, upon the deposit with it of any funds by any federally recognized Indian tribe, or any officer, employee, or agent thereof in his or her official capacity, give security for the safekeeping and prompt payment of funds so deposited; and
Whereas, no provision of Kansas law clearly authorizes a Kansas state bank to give security for the deposit with it of any funds by any federally recognized Indian tribe, or any officer, employee, or agent thereof in his or her official capacity; and
Whereas, K.S.A. 9-1715, as amended, grants to the commissioner ". . . the power to authorize any or all state banks to engage in any activity in which such banks could engage were they operating as national banks at the time such authority is granted. . ."; and
Whereas, the commissioner deems the issuance of this special order to be reasonably required to preserve the welfare of state banks and to promote competitive equality of state banks and national banking associations;
It is therefore ordered, that all Kansas state banks are hereby authorized, upon the deposit with them of any funds by any federally recognized Indian tribe, or any officer, employee, or agent thereof in his or her official capacity, to give security for the safekeeping and prompt payment of such funds so deposited.
It is further ordered, that pursuant to K.S.A. 9-1715 (b), as amended, the terms of this special order shall become effective June 8, 1999 and shall remain in full force and effect until amended or revoked by the state bank commissioner.
It is so ordered.
Acting State Bank Commissioner
Judi M. Stork
