Kansas Statutes 56-1a,101. Definitions
Terms Used In Kansas Statutes 56-1a,101
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Certificate of limited partnership: means the certificate referred to in Kan. See Kansas Statutes 56-1a,101
- 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.
- Foreign limited partnership: means a partnership formed under the laws of any state or jurisdiction other than the state of Kansas, or under the laws of any foreign country, and having as partners one or more general partners and one or more limited partners. See Kansas Statutes 56-1a,101
- General partner: means a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and so named in the certificate of limited partnership or similar instrument of the state or foreign country under which the limited partnership is organized if so required. See Kansas Statutes 56-1a,101
- 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.
- Limited partner: means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement. See Kansas Statutes 56-1a,101
- 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.
- Partner: means a limited or general partner. See Kansas Statutes 56-1a,101
- 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.
- Partnership agreement: means any valid written or oral agreement of the partners as to the affairs of a limited partnership and the conduct of its business. See Kansas Statutes 56-1a,101
- Person: means a natural person, partnership, domestic or foreign limited partnership, trust, estate, association, corporation, custodian, nominee or any other individual or entity in its own or any representative capacity. See Kansas Statutes 56-1a,101
- Property: includes personal and real property. See Kansas Statutes 77-201
- State: means a state, territory, or possession of the United States, the District of Columbia or the Commonwealth of Puerto Rico. See Kansas Statutes 56-1a,101
As used in the Kansas revised uniform limited partnership act, unless the context otherwise requires:
(a) “Certificate of limited partnership” means the certificate referred to in Kan. Stat. Ann. §§ 56-1a151 and amendments thereto and the certificate as amended.
(b) “Contribution” means any cash, property, services rendered, or a promissory note or other obligation to contribute cash or property or to perform services, which a partner contributes to a limited partnership in the partner’s capacity as a partner.
(c) “Event of withdrawal of a general partner” means an event that causes a person to cease to be a general partner as provided in Kan. Stat. Ann. §§ 56-1a252 and amendments thereto.
(d) “Foreign limited partnership” means a partnership formed under the laws of any state or jurisdiction other than the state of Kansas, or under the laws of any foreign country, and having as partners one or more general partners and one or more limited partners.
(e) “General partner” means a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and so named in the certificate of limited partnership or similar instrument of the state or foreign country under which the limited partnership is organized if so required.
(f) “Limited partner” means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement.
(g) “Limited partnership” and “domestic limited partnership” mean a partnership formed by two or more persons under the laws of the state of Kansas and having one or more general partners and one or more limited partners.
(h) “Partner” means a limited or general partner.
(i) “Partnership agreement” means any valid written or oral agreement of the partners as to the affairs of a limited partnership and the conduct of its business.
(j) “Partnership interest” means a partner’s share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets.
(k) “Person” means a natural person, partnership, domestic or foreign limited partnership, trust, estate, association, corporation, custodian, nominee or any other individual or entity in its own or any representative capacity.
(l) “State” means a state, territory, or possession of the United States, the District of Columbia or the Commonwealth of Puerto Rico.