{"data":{"id":"us-ks/k.s.a.-58-4906","jurisdiction":"us-ks","citation":"K.S.A. 58-4906","heading":"Actions that are not a requirement of nor the responsibility or liability of financial institutions; determining a payable on death beneficiary.","body":"(a) No financial institution shall be required to:\n(1) Designate an account as a first-time home buyer savings account or designate the beneficiaries of an account in the financial institution's account contracts or systems or in any other way;\n(2) track the use of moneys withdrawn from an account; or\n(3) report any information to the department of revenue or any other governmental agency that is not otherwise required by law.\n(b) No financial institution shall be responsible or liable for:\n(1) Determining or ensuring that an account holder is eligible for a Kansas adjusted gross income modification pursuant to K.S.A. 79-32,117, and amendments thereto;\n(2) determining or ensuring that moneys in the account are used for eligible expenses; or\n(3) reporting or remitting taxes or penalties related to the use of account moneys.\n(c) A financial institution may rely on such financial institution's account records for determining a payable on death beneficiary for a first-time home buyer savings account. If the payable on death beneficiary in a financial institution's account records conflicts with the designated beneficiary on any form required by the secretary under the first-time home buyer savings account act, the payable on death beneficiary in such financial institution's account records shall control.","path":["Chapter 58.—PERSONAL AND REAL PROPERTY","Article 49.—FIRST-TIME HOME BUYER SAVINGS ACCOUNT ACT"],"source_url":"https://www.ksrevisor.gov/statutes/chapters/ch58/058_049_0006.html","current_through":"2025 legislative session","vintage":"","retrieved_at":"2026-10-15T06:20:51Z","sha256":"d61d85af16bacd449481bbcfee2caa7f3db76112b4f6883020ee871e1df884f2","source_id":"us-ks","stale":false,"prev":"us-ks/k.s.a.-58-4905","next":"us-ks/k.s.a.-58-4907"},"notice":"GroundRules: Original legal text. Not legal advice."}