Kansas Statutes 9-1719. Change of control; definitions
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Terms Used In Kansas Statutes 9-1719
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
As used in Kan. Stat. Ann. §§ 9-1719 to 9-1722, inclusive, and amendments thereto:
(a) “Control” means the power to:
(1) Vote 25% or more of any class of voting shares;
(2) direct, in any manner, the election of a majority of the directors; or
(3) direct or exercise a controlling influence over the management or policies.
(b) “Person” means an individual or a corporation, partnership, trust, association, joint venture, pool, syndicate, sole proprietorship, unincorporated organization or any other form of entity not specifically listed in this subsection.