Kansas Statutes 16-1007. Repurchase obligations in bankruptcy
Terms Used In Kansas Statutes 16-1007
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(a) Kan. Stat. Ann. § 16-1002, and amendments thereto, shall apply to the repurchase obligation of any wholesaler, manufacturer, distributor or transferee of any wholesaler, manufacturer or distributor who has filed on or files subsequent to the effective date of this act for protection from creditors pursuant to 11 United States Code 101 et seq.
(b) Kan. Stat. Ann. § 16-1002, and amendments thereto, shall apply to the repurchase obligation of any wholesaler, manufacturer, distributor or transferee of any wholesaler, manufacturer or distributor who has a case pending on the effective date of this act for protection from creditors pursuant to 11 United States Code 101 et seq.
(c) This section shall be part of and supplemental to article 10 of chapter 16 of the Kansas Statutes Annotated.