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16-117. Definitions. As used in this act:

(a) "Credit agreement" means an agreement by a financial institution to lend or delay repayment of money, goods or things in action, to otherwise extend credit or to make any other financial accommodation. For purposes of this act the term "credit agreement" does not include the following agreements: Open-end or closed-end promissory notes, real estate mortgages, security agreements, guaranty agreements, letters of credit, deposit account agreements, agreements in connection with deposit accounts for the payment of overdrafts, agreements in connection with student loans insured or guaranteed pursuant to the federal higher education act of 1965, and acts amendatory thereof and supplementary thereto, and agreements in connection with "lender credit cards" as defined in the uniform consumer credit code;

(b) "creditor" means a financial institution which extends credit or extends a financial accommodation under a credit agreement with a debtor;

(c) "debtor" means a person who obtains credit or receives a financial accommodation under a credit agreement with a financial institution; and

(d) "financial institution" means a bank, savings and loan association, savings bank or credit union.

History: L. 1988, ch. 55, § 1; L. 1989, ch. 70, § 1; L. 1998, ch. 56, § 1; July 1.

Law Review and Bar Journal References:

"Kansas Legislation Governing Credit Agreements Of Financial Institutions," George L. Calvert III, 59 J.K.B.A. No. 2, 19 (1990).

"Lender Liability in Kansas: A Paradigm of Competing Tort and Contract Theories," Thomas A. Rossi, 29 W.L.J. 495, 513 (1990).

Attorney General's Opinions:

Credit agreements; required notice. 89-19.


1. Claim that bank breached oral agreement to extend loans to borrower properly dismissed on statute of frauds grounds. Wells v. State Bank of Kingman, 24 Kan. App. 2d 394, 395, 945 P.2d 418 (1997).

2. Lender's oral promise to extend future credit is a "credit agreement," not a modification of debtor's prior promissory note. Bittel v. Farm Credit Svcs. of Central Kansas, P.C.A., 265 Kan. 651, 656, 962 P.2d 491 (1998).

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