Kansas Statutes 2-3008. Assessments; collection; deposit in commission account; security for accounts
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(a) The assessment imposed pursuant to this act shall on or before the 20th day of the calendar month following the date of settlement be paid by the purchaser to the secretary. The secretary shall issue a receipt to the purchaser for such assessment. The secretary shall deposit all moneys received in payment of such assessment in a bank account established in the name of the commission in accordance with the provisions of this act.
(b) Each bank account used in operating and conducting the commission’s duties shall be secured by a pledge of securities in the manner prescribed for state bank accounts as provided under Kan. Stat. Ann. § 75-4218, and amendments thereto.
Terms Used In Kansas Statutes 2-3008
- Month: means a calendar month, unless otherwise expressed. See Kansas Statutes 77-201
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201