Kansas Statutes 17-7916. Attorneys-in-fact and power of attorney; irrevocable power of attorney
Terms Used In Kansas Statutes 17-7916
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Covered entity: means :
(1) A corporation;
(2) a limited partnership;
(3) a limited liability partnership; and
(4) a limited liability company. See Kansas Statutes 17-7902
- Organic rules: means the public organic document and private organic rules of an entity. See Kansas Statutes 17-7902
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Public organic document: means the filing of the public record which creates an entity and any amendment to or restatement of that record. See Kansas Statutes 17-7902
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
(a) Unless otherwise provided in a covered entity‘s public organic document or organic rules, any person may sign any document filed with the secretary of state pursuant to this act by an attorney-in-fact, but a power of attorney to sign a certificate relating to the admission of a general partner must describe the admission. Powers of attorney relating to the signing of a document by an attorney-in-fact need not be filed in the office of the secretary of state but must be retained by the covered entity.
(b) For all purposes of the laws of the state of Kansas, unless otherwise provided in a covered entity’s public organic document or organic rules, a power of attorney with respect to any document filed with the secretary of state pursuant to the business entity standard treatment act, Kan. Stat. Ann. § 17-7901 et seq., and amendments thereto, shall be irrevocable if the power of attorney states that it is irrevocable and it is coupled with an interest sufficient in law to support an irrevocable power. Such irrevocable power of attorney, unless otherwise provided therein, or in a covered entity’s public organic document or organic rules, shall not be affected by the subsequent death, disability, incapacity, dissolution, termination of existence or bankruptcy of, or any other event concerning, the principal.