Terms Used In Kansas Statutes > Chapter 17 > Article 27 - Professional Corporations

• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• 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.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• 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.
• Professional corporation: means a corporation organized under this act. See Kansas Statutes 17-2707
• Professional service: means the type of personal service rendered by a person duly licensed, registered or certified by this state as a member of any of the following professions, each paragraph constituting one type:

  (1) A certified public accountant;

  (2) an architect;

  (3) an attorney-at-law;

  (4) a chiropractor;

  (5) a dentist;

  (6) an engineer;

  (7) an optometrist;

  (8) an osteopathic physician or surgeon;

  (9) a physician, surgeon or doctor of medicine;

  (10) a veterinarian;

  (11) a podiatrist;

  (12) a pharmacist;

  (13) a land surveyor;

  (14) a licensed psychologist;

  (15) a specialist in clinical social work;

  (16) a licensed physical therapist;

  (17) a landscape architect;

  (18) a registered professional nurse;

  (19) a real estate broker or salesperson;

  (20) a clinical professional counselor;

  (21) a geologist;

  (22) a clinical psychotherapist;

  (23) a clinical marriage and family therapist;

  (24) a licensed physician assistant;

  (25) a licensed occupational therapist;

  (26) a licensed audiologist;

  (27) a licensed speech-pathologist; and

  (28) a licensed naturopathic doctor. See Kansas Statutes 17-2707

• Property: includes personal and real property. See Kansas Statutes 77-201
• Qualified person: means :

  (1) Any natural person licensed, registered or certified to practice the same type of profession that any professional corporation is authorized to practice;

  (2) the trustee of a trust that is a qualified trust under section 401(a) of the federal internal revenue code, as in effect on January 1, 2004, or of a contribution plan that is a qualified employee stock ownership plan under section 409A(a) of the federal internal revenue code, as in effect on January 1, 2004;

  (3) the trustee of a revocable living trust established by a natural person who is licensed, registered or certified to practice the type of profession that any professional corporation is authorized to practice, if the terms of such trust provide that such natural person is the principal beneficiary and sole trustee of such trust and such trust does not continue to hold title to professional corporation stock following such natural person's death for more than a reasonable period of time necessary to dispose of such stock; or

  (4) a healing arts school clinic authorized to perform professional services in accordance with Kan. See Kansas Statutes 17-2707

• Regulating board: means the court, board or state agency that is charged with the licensing, registering or certifying and regulation of the practice of the profession that the professional corporation is organized to render. See Kansas Statutes 17-2707
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trustee: A person or institution holding and administering property in trust.