Kansas Statutes 75-5128. Surety bonds and escrow agreements made under acts administered by secretary of revenue
Current as of: 2023 | Check for updates
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Terms Used In Kansas Statutes 75-5128
- Act: means the Kansas charitable gaming act. See Kansas Statutes 75-5173
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Secretary: means the secretary of revenue or the secretary's designee. See Kansas Statutes 75-5173
- 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) Any corporate surety bond required to be executed and filed under any act administered by the secretary of revenue shall be signed as surety by a corporate surety authorized to do business in the state of Kansas.
(b) The escrow agent under any escrow agreement which is made in lieu of executing and filing a corporate surety bond under any act administered by the secretary of revenue shall be a financial institution authorized to do business in the state of Kansas.