Kansas Statutes 12-8,101. Same; not subject to general bond law; exempt from taxation; negotiable instruments
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Terms Used In Kansas Statutes 12-8,101
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
(a) Any bonds issued under the provisions of this act shall not be subject to the general bond laws of the state of Kansas.
(b) All bonds issued in accordance with the provisions of this act and all income or interest therefrom shall be exempt from all state taxes.
(c) All bonds issued under the provisions of this act shall be negotiable instruments under the provisions of the uniform commercial code of the state of Kansas.