Kan. Admin. Regs. § 121-5-3
Current through Register Vol. 43, No. 49, December 5, 2024
Section 121-5-3 - Deteriorating condition(a) A credit union shall be deemed to be in a "deteriorating condition," as that term is used in K.S.A. 17-2206(d) and amendments thereto, if any of the following conditions is met: (1) The credit union's net worth category declines from well capitalized, adequately capitalized, or undercapitalized to significantly undercapitalized or to critically undercapitalized within a 12-month period. (2) The credit union's net worth category declines from significantly undercapitalized to critically undercapitalized within a 12-month period. (3) The credit union's net worth category declines to critically undercapitalized in a manner other than the manner specified in paragraphs (a)(1) and (2). (b) The following federal regulations, as in effect on November 29, 2002, are hereby adopted by reference: (1)12 CFR 702.2, except subsections (b), (c), (h), (i), and (j); (3)12 CFR 702.102 (a), including table 1. This subsection includes the meanings of the terms "well capitalized," "adequately capitalized," "undercapitalized," "significantly undercapitalized," and "critically undercapitalized"; (5)12 CFR 702.104, including table 2 but excluding the following text: (A) In subsection (a), "(as defined in 12 CFR 723.1 or as approved under 12 CFR 723.20)"; (B) in subsection (b), "as defined in 12 CFR 723.1 or as approved under 12 CFR 723.20 "; (D) in subsection (g), "as defined in 12 CFR 723.1 or as approved under 12 CFR 723.20 "; (6)12 CFR 702.105, including table 3; (7)12 CFR 702.106, including table 4; (8)12 CFR 702.107, including table 5; and (9)12 CFR 702.108 (a) and (c)(1). Kan. Admin. Regs. § 121-5-3
Authorized by K.S.A. 17-2260; implementing K.S.A. 17-2206; effective, T-121-9-6-06, Sept. 6, 2006; effective Dec. 15, 2006.