59-1701. Corporate fiduciaries.
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/ks/chapter-59/59-1701A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
59-1701. Corporate fiduciaries.
(a)No bank, savings and loan association or other corporation shall be appointed or authorized directly or indirectly to act as a fiduciary in this state except:
(1)A bank, savings and loan association or other corporation organized under the laws of, and having its principal place of business in, this state;
(2)a national bank, federal savings bank or federal savings and loan association located in this state;
(3)a bank, savings and loan association or other corporation organized under the laws of, and having its principal place of business in, another state which permits a bank, savings and loan association or other corporation which is similarly organized in this state to act in a like fiduciary capacity in the other state under similar conditions;
(4)a national bank, federal savings bank or federal savings and loan association located in another state which permits a national bank, federal savings bank or federal savings and loan association located in this state to act in a like fiduciary capacity in the other state under similar conditions;
(5)a nonprofit corporation certified in accordance with K.S.A. 59-30,112 , and amendments thereto, to the extent provided by that statute; or
(6)as provided in K.S.A. 59-1707 and 59-1708 , and amendments thereto.
(b)No officer, employee or agent of a bank, savings and loan association or corporation which is not authorized to act as a fiduciary in this state shall be permitted to act as a fiduciary, whether such officer, employee or agent is a resident or a nonresident of this state, when in fact such officer, employee or agent is acting as a fiduciary on behalf of such bank, savings and loan association or corporation.
(c)No bank, savings and loan association or other corporation, other than a nonprofit corporation certified in accordance with K.S.A. 59-30,112 , and amendments thereto, shall be appointed guardian of the person of a ward.