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9-1612. Company having control over a bank or trust company defined. For the purposes of K.S.A. 9-1601 through 9-1611, and amendments thereto, any company has control over a bank or trust company if the company directly or indirectly, or acting through one or more persons:

(a) Owns, controls or has power to vote 25% or more of any class of voting securities of the bank or trust company;

(b) controls, in any manner, the election of a majority of the directors or trustees of the bank or trust company; or

(c) has the power to direct the management or policies of the bank or trust company.

History: L. 1973, ch. 49, § 2; L. 2015, ch. 38, § 96; July 1.

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