Attorney General Opinion No. 1985-112

Résumé du livre

K.S.A. 9-1906, as amended by L. 1985, ch. 59, provides a statutory procedure for the distribution of assets of an insolvent bank or trust company. As a general rule of law, purely procedural statutes which do not affect substantive rights are given retrospective application. Provided no distributions have been made to creditors, K.S.A. 9-1906 may be applied retrospectively to an existing receivership. However, after the distribution process has begun, creditors of the insolvent institution have a vested right in the method of distribution. In such a case, K.S.A. 9L.1906 should be given prospective application only. Cited herein: K.S.A. 9-1906, as amended by L. 1985, ch. 59; 44-1211; 75-4221; 84-9-301; 84-9-312, as amended by L. 1985, ch. 346, section 1.