Kansas - Session 2025-2026
Title: SB524 - Requiring banks to enter into a written agreement with the state treasurer to be a depository of public moneys, increasing the market value of securities necessary to secure the deposit of public moneys, providing procedures for when a depository fails to follow the requirements of the state treasurer, modifying certain definitions, authorizing the state treasurer to assess a fee to operate the public moneys pooled method, creating the public moneys fee fund and providing exceptions to the public moneys pooled method if accounts are subject to conflicting federal law.
AN ACT concerning public moneys; relating to the deposit and investment thereof; requiring banks, savings and loans associations and savings banks to enter into a written agreement with the state treasurer to be a depository of public moneys; increasing the market value of securities necessary to secure the deposit of public moneys; providing procedures for when a depository fails to follow the requirements of the state treasurer; modifying certain definitions; authorizing the state treasurer to assess a fee to operate the public moneys pooled method; creating the public moneys fee fund of the state treasurer; providing exceptions to the public moneys pooled method if accounts are subject to conflicting federal law; amending K.S.A. 9-1401, 9-1403, 9-1405, 9-1406, 9-1407, 9-1408 and 75-4201 and K.S.A. 2025 Supp. 9-1402, 9-1410, 12-1675 and 75-4218 and repealing the existing sections.
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| Date | Event | Detail |
|---|---|---|
| 2026-03-03 | Introduced | Bill introduced |
| 2026-03-24 | Status | in_committee |
| 2026-03-24 | Latest Action | Referred to Committee on Financial Institutions and Pensions |