Kansas Administrative Regulations
Agency 17 - OFFICE OF THE STATE BANK COMMISSIONER
Article 9 - INVESTMENT SECURITIES
Section 17-9-1 - Investment securities; definitions

Universal Citation: KS Admin Regs 17-9-1

Current through Register Vol. 43, No. 52, December 26, 2024

For the purposes of K.S.A. 1995 Supp. 9-1101(6) and this article:

(a) "investment security" means an investment made for the account of the bank which is a marketable obligation evidencing indebtedness in the form of a bond, note, or debenture, commonly known as an investment security. The term shall not include, and nothing in this article shall be construed as permitting a bank to purchase, investments which are predominantly speculative in nature or which are in default as to principal and interest; and

(b) "marketable obligation" means an investment that:

(1) may be sold with reasonable promptness at a readily determinable price which corresponds reasonably to its fair value; and

(2) is supported by adequate evidence that the obligor will be able to perform all obligations in connection with the security including the ability to meet all debt service requirements.

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