Kansas Statutes 17-7201. Laws applicable to close corporations
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Terms Used In Kansas Statutes 17-7201
- 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.
(a) Kan. Stat. Ann. §§ 17-7201 through 17-7216, and amendments thereto, apply to all close corporations, as defined in Kan. Stat. Ann. § 17-7202, and amendments thereto. Unless a corporation elects to become a close corporation under the foregoing sections in the manner prescribed therein, it shall be subject in all respects to the provisions of this code, except the provisions of Kan. Stat. Ann. §§ 17-7201 through 17-7216, and amendments thereto.
(b) All provisions of this code shall be applicable to all close corporations, as defined in Kan. Stat. Ann. § 17-7202, and amendments thereto, except as otherwise provided in Kan. Stat. Ann. §§ 17-7201 through 17-7216, and amendments thereto.