Kansas Statutes 75-42a05. Enforcement of act by attorney general; violation by investment manager or contractor, amount of damages
Terms Used In Kansas Statutes 75-42a05
- Act: means the Kansas public investments and contracts protection act. See Kansas Statutes 75-42a01
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
- System: means the Kansas public employees retirement system. See Kansas Statutes 75-42a01
(a) This act or any contract subject to this act may be enforced by the attorney general.
(b) If the attorney general has reasonable cause to believe that a person has engaged in, is engaging in or is about to engage in a violation of this act, the attorney general may require:
(1) Such person to file on such forms as the attorney general may prescribe a statement or report in writing, under oath, as to all the facts and circumstances concerning the violation; and
(2) the filing of such other data and information as the attorney general may deem necessary.
(c) In addition to any other remedies available at law or equity, an investment manager or contractor of the system that serves as a fiduciary and violates the provisions of Kan. Stat. Ann. 2023 Supp. 75-42a03, and amendments thereto, shall be obligated to pay damages to the state in an amount equal to three times all moneys paid to the investment manager or contractor by the system for the services of such investment manager or contractor.