Kansas Statutes > Chapter 17 > Article 79 – Business Entity Standard Treatment Act
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Terms Used In Kansas Statutes > Chapter 17 > Article 79 - Business Entity Standard Treatment Act
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- 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.
- 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.
- 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
- 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: A trustee, executor, or administrator.
- Foreign covered entity: means a covered entity whose internal affairs are governed by the laws of a jurisdiction other than this state. See Kansas Statutes 17-7902
- Fraud: Intentional deception resulting in injury to another.
- Governor: means a person by or under whose authority the powers of an entity are exercised and under whose direction the business and affairs of the entity are managed pursuant to the organic law and organic rules of the entity. See Kansas Statutes 17-7902
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Organic law: means the statutes, if any, other than this act, governing the internal affairs of a covered entity. See Kansas Statutes 17-7902
- Organic rules: means the public organic document and private organic rules of an entity. See Kansas Statutes 17-7902
- 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.
- 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
- Property: includes personal and real property. See Kansas Statutes 77-201
- 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
- Service of process: The service of writs or summonses to the appropriate party.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
- Statute: A law passed by a legislature.
- telefacsimile or electronic communication: means the use of electronic equipment to send or transfer a document, including attachment to an electronic mail or direct upload. See Kansas Statutes 17-7914
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
- Venue: The geographical location in which a case is tried.