Terms Used In Kansas Statutes 17-7003

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

Any corporation desiring to renew, restore, revive, extend and continue its corporate existence, shall, upon complying with the provisions of article 70 of chapter 17 of the Kansas Statutes Annotated, and amendments thereto, continue as provided in its certificate effecting such action, as a corporation and shall, in addition to the rights, privileges and immunities conferred by its articles of incorporation, possess and enjoy all the benefits of this code that are applicable to the nature of its business, and shall be subject to the restrictions and liabilities by this code imposed on such corporations.

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