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ACHEY v. LINN COUNTY BANK

No. 76,623.

261 Kan. 669 (1997)

931 P.2d 16

DRUCILLA B. ACHEY and JAMES F. ACHEY, Plaintiffs, v. LINN COUNTY BANK, DSP INVESTMENTS, LTD., et al., Defendants.

Supreme Court of Kansas.

Opinion filed January 31, 1997.

Attorney(s) appearing for the Case

W. Joseph Hatley, of Lathrop & Gage L.C., of Overland Park, argued the cause, and Scott M. Herpich and Charles F. Zarter, were with him on the briefs for plaintiffs.

H. Boone Porter, III, of Lewis, Rice & Fingersh, L.C., of Kansas City, Missouri, argued the cause, and Louis A. Cohn, of the same firm, was with him on the briefs for defendant.

Charles N. Henson, of Wright, Henson, Somers, Sebelius, Clark & Baker, L.L.P., of Topeka, was on the briefs for amicus curiae the Kansas Bankers Association.

The opinion of the court was delivered by

LARSON, J.:

The United States District Court for the District of Kansas certified two questions of law for our determination. The United States District Court phrased the certified questions as follows:

"(1) Whether Kansas law, including K.S.A. 17-6602(c)(2), precludes a bank with only one class of stock from reducing the number of authorized shares below the number of outstanding shares?"

"(2) Whether...

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