Kan. Admin. Regs. § 38-1-5

Current through Register Vol. 44, No. 2, January 9, 2025

Section 38-1-5 - Decision

Within ten (10) business days following completion of the hearing, the board shall issue an order either approving or disapproving the application. If the application is disapproved, the board shall state the reasons for disapproval. In the event the application is approved, the board shall state in writing the following findings based upon the evidence presented to the board:

(1) There is or will be at the time the home office or branch is opened, the necessity for same in the community to be served by it.

(2) There is a reasonable probability of usefulness and success of the proposed home office or branch.

(3) The proposed home office or branch can be established without undue injury to properly conducted existing associations or federal savings and loan associations.

The commissioner shall promptly furnish the applicant a copy of the board's order and the commissioner shall promptly give written notice of the board's decision to all associations given advance notice of the hearing.

Kan. Admin. Regs. § 38-1-5

Authorized by K.S.A. 17-5427, 17-5601, K.S.A. 1972 Supp. 17-5225; effective Jan. 1, 1973.