Loading chat...
KS HB2418
Bill
Status
1/12/2026
Primary Sponsor
Joint Committee on Fiduciary Financial Institutions Oversight
Click for details
AI Summary
-
Prohibits the Kansas Office of the State Bank Commissioner and all other state agencies from serving as receiver for any technology-enabled fiduciary financial institution that becomes insolvent or declares bankruptcy
-
Defines insolvency as occurring when an institution's actual cash market value of assets is insufficient to pay creditor liabilities, or when it cannot meet creditor demands in the usual and customary manner
-
Amends K.S.A. 2025 Supp. 9-2301 to incorporate this new receivership prohibition into the existing Technology-Enabled Fiduciary Financial Institutions Act
-
Takes effect upon publication in the statute book
Legislative Description
Prohibiting the office of the state bank commissioner or any other state agency from becoming a receiver for a technology-enabled fiduciary financial institution that becomes insolvent or declares bankruptcy.
Last Action
House Referred to Committee on Financial Institutions and Pensions
1/12/2026