Updates the Technology-Enabled Fiduciary Financial Institutions Act by incorporating it into the state banking code, reducing charter fees, and.
The bill updates the Technology-Enabled Fiduciary Financial Institutions Act by integrating it into the state banking code. It reduces the charter application fee for fiduciary financial institutions from $250,000 to $50,000. The bill also authorizes the issuance of certificates and trust certificates by these institutions. It mandates supervision by the state bank commissioner and expands the definition of qualified charities for the fiduciary financial institution income tax credit to include Kansas nonprofit corporations.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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