Kansas Statutes 16-105. Release of persons jointly or severally liable
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Terms Used In Kansas Statutes 16-105
- creditor: means a financial institution which extends credit or extends a financial accommodation under a credit agreement with a debtor;
(c) "debtor" means a person who obtains credit or receives a financial accommodation under a credit agreement with a financial institution; and
(d) "financial institution" means a bank, savings and loan association, savings bank or credit union. See Kansas Statutes 16-117
Any person jointly or severally liable with others for the payment of any debt or demand may be released from such liability by the creditor, and such release shall not discharge the other debtors or obligors beyond the proper proportion of the debt or demand for which the person released was liable.