Kansas Statutes 56a-101. Definitions
Terms Used In Kansas Statutes 56a-101
- 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.
- 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.
- 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.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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.
- Property: includes personal and real property. See Kansas Statutes 77-201
- 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.
- Undertaking: means a promise or security in any form where required by law. See Kansas Statutes 77-201
In this act:
(a) “Business” includes every trade, occupation, and profession.
(b) “Debtor in bankruptcy” means a person who is the subject of:
(1) An order for relief under title 11 of the United States code or a comparable order under a successor statute of general application; or
(2) a comparable order under federal, state, or foreign law governing insolvency.
(c) “Distribution” means a transfer of money or other property from a partnership to a partner in the partner’s capacity as a partner or to the partner’s transferee.
(d) “Foreign limited liability partnership” means a partnership that:
(1) Is formed under laws other than the laws of this state; and
(2) has the status of a limited liability partnership under those laws.
(e) “Limited liability partnership” means a partnership that has filed a statement of qualification under Kan. Stat. Ann. § 56a-1001, and amendments thereto, and does not have a similar statement in effect in any other jurisdiction.
(f) “Partnership” means an association of two or more persons to carry on as co-owners a business for profit formed under Kan. Stat. Ann. § 56a-202, and amendments thereto, predecessor law, or comparable law of another jurisdiction.
(g) “Partnership agreement” means the agreement, whether written, oral, or implied, among the partners concerning the partnership, including amendments to the partnership agreement.
(h) “Partnership at will” means a partnership in which the partners have not agreed to remain partners until the expiration of a definite term or the completion of a particular undertaking.
(i) “Partnership interest” or “partner’s interest in the partnership” means all of a partner’s interests in the partnership, including the partner’s transferable interest and all management and other rights.
(j) “Person” means an individual, corporation, business trust, estate, trust, partnership, association, joint venture, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.
(k) “Property” means all property, real, personal, or mixed, tangible or intangible, or any interest therein.
(l) “State” means a state of the United States, the District of Columbia, the commonwealth of Puerto Rico, or any territory or insular possession subject to the jurisdiction of the United States.
(m) “Statement” means a statement of partnership authority under Kan. Stat. Ann. § 56a-303, and amendments thereto, a statement of denial under Kan. Stat. Ann. § 56a-304, and amendments thereto, a statement of dissociation under Kan. Stat. Ann. § 56a-704, and amendments thereto, a statement of dissolution under Kan. Stat. Ann. § 56a-805, and amendments thereto, a statement of merger under Kan. Stat. Ann. § 56a-907, and amendments thereto, a statement of qualification under Kan. Stat. Ann. § 56a-1001, and amendments thereto, a statement of foreign qualification under Kan. Stat. Ann. § 56a-1102, and amendments thereto, or an amendment or cancellation of any of the foregoing.
(n) “Street address” means the location with the number, street, city, state and postal code.
(o) “Transfer” includes an assignment, conveyance, lease, mortgage, deed, and encumbrance.