17-6106. Banking power denied. - Kansas Statutes

17-6106

Chapter 17.--CORPORATIONS Article 61.--CORPORATE POWERS

      17-6106.   Banking power denied. (a) Unless authority is expressly conferred by another law of this state, no corporation shall possess the power of issuing bills, notes or other evidences of debt for circulation as money, or the power of carrying on the business of receiving deposits of money.

      (b)   Corporations organized to buy, sell and otherwise deal in notes, open accounts and other similar evidences of debt, or to loan money and to take notes, open accounts and other similar evidences of debt as collateral security therefor, shall not be deemed to be engaging in the business of banking.

      History:   L. 1972, ch. 52, § 16; July 1.