Authorizing the state bank commissioner to establish a nonprofit organization incorporated under the laws of Kansas to provide charitable consumer financial education initiatives in Kansas.

Session of 2026
SENATE BILL No. 316
By Committee on Financial Institutions and Insurance
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AN ACT concerning the office of the state bank commissioner; relating to
powers, duties and responsibilities of the state bank commissioner;
authorizing the state bank commissioner to establish a nonprofit
organization incorporated under the laws of Kansas to provide
charitable consumer financial education initiatives in Kansas.
Be it enacted by the Legislature of the State of Kansas:
Section 1. (a) (1) The state bank commissioner is authorized to
establish a nonprofit organization incorporated under the laws of Kansas to
provide charitable consumer financial education initiatives in Kansas.
(2) Unless otherwise provided in this section, the nonprofit
organization may engage in any lawful activity that such organization
deems necessary to further such organization's charitable consumer
financial education initiatives in Kansas, including, but not limited to:
(A) Directly providing outreach and education;
(B) funding other nonprofit organizations that provide consumer
financial education;
(C) providing scholarships to Kansans for the attainment of higher
education in Kansas postsecondary educational institutions; or
(D) investing idle funds for future consumer financial education
initiatives.
(b) (1) The nonprofit organization may accept grants or donations
from the public.
(2) With the approval of the state bank commissioner or the
commissioner's designee, any person under an enforcement action or
examination that is ordered to pay a fine designated for consumer financial
education may contribute a donation to the nonprofit organization in lieu
of paying such fine.
(c) The state bank commissioner may authorize the funding of the
nonprofit organization for the initial and subsequent transfers from the
consumer education settlement fund.
(d) The nonprofit organization shall not:
(1) Have paid employees; or
(2) hold or acquire any real or personal property other than
publications and other personal property intended to be provided through
charitable consumer financial education initiatives in Kansas.
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SB 316 2
(e) The nonprofit organization may enter into contracts with third
parties to further such organization's charitable consumer financial
education initiatives, including, but not limited to, accountants and
investment professionals.
(f) (1) The nonprofit organization shall be managed and controlled by
a board of directors.
(2) Such board shall be comprised of a number of directors to be
determined by the organization in the organizational bylaws.
(3) The initial board of directors shall be appointed by the state bank
commissioner. Subsequent directors shall be appointed in accordance with
a process specified in the organizational bylaws.
(4) Each board member shall serve on a volunteer basis and receive
no remuneration other than reimbursement for bona fide expenses paid on
behalf of the organization.
(5) No board member or board member's immediate family shall
benefit from the nonprofit organization.
(g) The nonprofit organization shall not fund political activities.
(h) Nothing in this section shall be construed to deem the nonprofit
organization as a state agency.
Sec. 2. This act shall take effect and be in force from and after its
publication in the statute book.
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