17-5324. Charging off or setting up reserves against bad assets; appeal from commissioner's order. - Kansas Statutes

17-5324

Chapter 17.--CORPORATIONS Article 53.--SAVINGS AND LOAN CODE; MANAGEMENT

      17-5324.   Charging off or setting up reserves against bad assets; appeal from commissioner's order. The commissioner, after a determination of value based upon an independent appraisal, may order that assets in the aggregate, to the extent that such assets have depreciated in value, be charged off, or that a special reserve or reserves equal to such depreciation in value be set up by transfers from undivided profits. Any association may appeal from such order under this section to the savings and loan board in the manner provided by K.S.A. 17-5606 and acts amendatory thereof.

      History:   L. 1943, ch. 133, § 53; L. 1972, ch. 67, § 1; July 1.