Kansas HB2418 prohibits state agencies from acting as receivers for insolvent technology-enabled fiduciary financial institutions.
Kansas HB2418 amends the technology-enabled fiduciary financial institutions act to prohibit the office of the state bank commissioner or any other state agency from becoming a receiver for a technology-enabled fiduciary financial institution that becomes insolvent or declares bankruptcy. The bill defines key terms such as "fiduciary financial institution," "fidfin trust," and "alternative asset custody account." It also outlines conditions under which a fiduciary financial institution is deemed insolvent.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.