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17-2226. Purchase of real estate, material, equipment or improvements; lease and disposition of property. (a) Credit unions may purchase, lease, hold or rent real estate and improvements thereon for their current or future use and occupancy.

(b) A credit union may purchase, rent, hold, contract for, acquire or lease any material, equipment or service which may be necessary or incidental to its operation.

(c) A credit union may rent or lease a portion of its building, fixed assets or property and may acquire, lease, hold, assign, pledge, sell or otherwise dispose of property or other assets, either in whole or in part, necessary or incidental to its operations and purposes.

History: L. 1963, ch. 140, § 7; L. 1965, ch. 153, § 8; L. 1968, ch. 160, § 12; L. 1982, ch. 103, § 4; L. 1987, ch. 86, § 2; L. 1992, ch. 225, § 10; L. 2019, ch. 22, § 20; July 1.

CASE ANNOTATIONS

1. Credit union may purchase building which exceeds present space requirements; specific performance affirmed. Anderson v. Overland Park Credit Union, 231 Kan. 97, 99, 105, 107, 643 P.2d 120 (1982).

2. Credit union may purchase interest of prior lienholder to protect second mortgage on realty. Tip Top Credit Union v. Lies, 234 Kan. 925, 932, 677 P.2d 540 (1984).


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