§ 9-701 Definitions

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Terms Used In Kansas Statutes > Chapter 9 > Article 7 - Banking Code; Definitions

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Community Reinvestment Act: The Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Fiduciary: A trustee, executor, or administrator.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201