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Terms Used In Kansas Statutes 75-5128

  • Act: means the Kansas charitable gaming act. See Kansas Statutes 75-5173
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Secretary: means the secretary of revenue or the secretary's designee. See Kansas Statutes 75-5173
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201

(a) Any corporate surety bond required to be executed and filed under any act administered by the secretary of revenue shall be signed as surety by a corporate surety authorized to do business in the state of Kansas.

(b) The escrow agent under any escrow agreement which is made in lieu of executing and filing a corporate surety bond under any act administered by the secretary of revenue shall be a financial institution authorized to do business in the state of Kansas.