Kansas Statutes 17-2226. Purchase of real estate, material, equipment or improvements; lease and disposition of property
Current as of: 2023 | Check for updates
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Terms Used In Kansas Statutes 17-2226
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: includes personal and real property. See Kansas Statutes 77-201
(a) Credit unions may purchase, lease, hold or rent real estate and improvements thereon for their current or future use and occupancy.
(b) A credit union may purchase, rent, hold, contract for, acquire or lease any material, equipment or service which may be necessary or incidental to its operation.
(c) A credit union may rent or lease a portion of its building, fixed assets or property and may acquire, lease, hold, assign, pledge, sell or otherwise dispose of property or other assets, either in whole or in part, necessary or incidental to its operations and purposes.