Kansas Statutes 17-78,110. Excluded entities and transactions
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Terms Used In Kansas Statutes 17-78,110
- 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.
- Liability: means a debt, obligation or any other liability arising in any manner, regardless of whether it is secured or whether it is contingent. See Kansas Statutes 17-78,102
The following entities may not participate in a transaction under this act:
(a) Entities regulated underchapter 40 of the Kansas Statutes Annotated;
(b) banks and trust companies organized underchapter 9 of the Kansas Statutes Annotated;
(c) credit unions organized under Kan. Stat. Ann. § 17-2201 et seq., and amendments thereto; and
(d) professional corporations formed under the Kansas professional corporation law or limited liability companies organized under the Kansas revised limited liability company act to render a professional service, as defined at Kan. Stat. Ann. § 17-2707, and amendments thereto.