Terms Used In Kansas Statutes 9-1408

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC

As used in article 14 of chapter 9 of the Kansas Statutes Annotated, and amendments thereto:

(a) “Branch” means any office within this state or another state, other than the main office, that is approved as a branch by a federal or state supervisory agency and at which deposits are received, checks paid or money lent. Branch does not include an automated teller machine, remote service unit or similar device, a loan production office or a deposit production office;

(b) “centralized securities depository” means a clearing agency registered with the securities and exchange commission which provides safekeeping and book-entry settlement services to the agency’s participants;

(c) “government unit” means any state, county, municipality or other political subdivision thereof;

(d) “Kansas national bank” means a federally chartered bank which has a main office or branch located in this state;

(e) “Kansas state bank” means a Kansas state chartered bank;

(f) “main office” means the place of business specified in the articles of association, certificate of authority or similar document where the business of the institution is carried on and which is not a branch;

(g) “municipal corporation” or “quasi-municipal corporation” includes each investing governmental unit under Kan. Stat. Ann. § 12-1675, and amendments thereto;

(h) “savings and loan association” means any savings and loan association incorporated under the laws of this state or any other state or organized under the laws of the United States and which has a main or branch office in this state;

(i) “savings bank” means any savings bank organized under the laws of the United States and which has a main or branch office in this state; and

(j) “securities,” “security entitlements,” “financial assets,” “securities account,” “security agreement,” “security interest,” “perfection” and “control” shall have the meanings given such terms under the Kansas uniform commercial code.