Kansas SB316 authorizes the state bank commissioner to create a nonprofit organization for charitable consumer financial education in Kansas.
Kansas SB316 allows the state bank commissioner to establish a nonprofit organization incorporated under Kansas law to provide charitable consumer financial education initiatives. The organization can accept donations and grants, fund its activities through the consumer education settlement fund, and engage in lawful activities to further its mission. It cannot have paid employees, hold property other than necessary publications, fund political activities, or benefit its board members or their families.
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