Kansas Statutes 79-5a08. Public utility or public utilities; acquisition of property of utility by another; public utility sales validation questionnaire required
Terms Used In Kansas Statutes 79-5a08
- 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.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Deed: is a pplied to an instrument conveying lands but does not imply a sealed instrument. See Kansas Statutes 77-201
- 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
Any individual, partnership, corporation or public utility, which acquires by deed or other instrument all or any portion of another utility’s property, shall forward a public utility sales validation questionnaire to the director of property valuation. The forms for the public utility sales validation questionnaire shall be prescribed and furnished by the director of property valuation. For the purposes of this section, the phrase “acquires by deed or other instrument” includes, without limitation, sales, mergers, acquisitions, take-overs, consolidations and liquidations of all or any portion of a public utility operating in this state and, whenever such sales, mergers, acquisitions, take-overs, consolidations and liquidations concern property located both within and without this state, the entire transaction shall be reported.