Terms Used In Kansas Statutes > Chapter 75 > Article 42a - Kansas Public Investments and Contracts Protection Act

• Act: means the Kansas public investments and contracts protection act. See Kansas Statutes 75-42a01
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Board: means the board of trustees of the Kansas public employees retirement system. See Kansas Statutes 75-42a01
• Company: means any organization, association, corporation, partnership, joint venture, limited partnership, limited liability partnership, limited liability company or other entity of business association, including a wholly owned subsidiary, majority-owned subsidiary, parent company or affiliate of such entities or business associations that exists for the purpose of making a profit. See Kansas Statutes 75-42a01
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fiduciary: means any person acting on behalf of the board or system as an investment manager, proxy advisor or contractor, including the system's board of trustees. See Kansas Statutes 75-42a01
• Fiduciary: A trustee, executor, or administrator.
• Fiduciary commitment: means any evidence of a fiduciary's purpose in managing assets as a fiduciary, including, but not limited to, any of the following in a fiduciary's capacity as a fiduciary, specifically on assets managed on behalf of the system:

  (A) Advertisements, statements, explanations, reports, communications with portfolio companies, statements of principles or commitments; or

  (B) participation in, affiliation with or status as a signatory to any coalition, initiative, joint statement of principles or agreement. See Kansas Statutes 75-42a01

• Financial: means having been prudently determined by a fiduciary to have a material effect on the financial risk or the financial return of an investment. See Kansas Statutes 75-42a01
• Fossil fuels: means coal, natural gas, petroleum or oil formed by natural processes through decomposition of dead organisms. See Kansas Statutes 75-42a01
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• 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.
• Proxy voting: The practice of allowing a legislator to cast a vote in committee for an absent legislator.
• 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