59-1701. Corporate fiduciaries. - Kansas Statutes

59-1701

Chapter 59.--PROBATE CODE Article 17.--PROVISIONS APPLICABLE TO ALL ESTATES

      59-1701.   Corporate fiduciaries.(a) No bank, savings and loan association or other corporation shall beappointed or authorized directly orindirectly to act as a fiduciary in this state except:

      (1)   A bank, savings and loan association or other corporationorganized under the laws of, and havingits principal place of business in, this state;

      (2)   a national bank, federal savings bank or federal savings and loanassociation located in this state;

      (3)   a bank, savings and loan association or other corporationorganized under the laws of, and havingits principal place of business in, another state which permits a bank,savings and loan association orother corporation which is similarly organized in this state to act in alike fiduciary capacity in the other state under similar conditions;

      (4)   a national bank, federal savings bank or federal savings and loanassociation located in another state which permits a nationalbank, federal savings bank or federal savings and loan associationlocated in this state to act in a like fiduciary capacity in the otherstate under similar conditions;

      (5)   a nonprofit corporation certified in accordance with K.S.A. 59-3070, andamendments thereto, to the extent provided by that statute; or

      (6)   as provided inK.S.A. 59-1707 and 59-1708, and amendments thereto.

      (b)   No officer,employee or agent of a bank, savings and loan association orcorporation which is not authorized to actas a fiduciary in this state shall be permitted to actas a fiduciary, whether such officer, employee or agent isa resident or a nonresident of this state, when in fact such officer,employee or agent is acting as a fiduciary on behalf of such bank,savings and loan association or corporation.

      (c)   No bank, savings and loan association or other corporation, other than anonprofit corporation certified in accordance with K.S.A. 59-3070, andamendments thereto, shall be appointed guardian of the person of a ward.

      History:   L. 1939, ch. 180, § 131;L. 1967, ch. 314, § 11;L. 1981, ch. 226, § 1;L. 1985, ch. 193, § 1;L. 2002, ch. 114, § 59; July 1.