Kansas Out-of-State Parity Bill on Track to Pass

TOPEKA, Kan. – An industry-sponsored parity bill giving state-chartered credit unions equity with out-of-state CUs on broad powers is headed for passage in the Kansas legislature. The bill granting the Kansas CU regulator authority to issue special orders granting parity to state CUs passed the Kansas House 122-0 on Feb. 25 and was voted out of the Senate Financial Institutions and Insurance Committee two weeks ago for a floor vote. The measure, backed by the Kansas Credit Union Association and similar to a parity law on out-of-state institutions pushed by the Kansas Bankers Association in 2001, also would require a CU doing business in the state be subject to the same fees for examination as state CUs. There are only two known out-of-state CUs operating in Kansas but the KCUA felt parity should be spelled out for future expansions, said David Dick, vice president of association services.