Kentucky Statutes 362.155 – Definitions for KRS 362.150 to 362.360
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In KRS § 362.150 to KRS § 362.360:
(1) “Court” includes every court and judge having jurisdiction in the case. (2) “Business” includes every trade, occupation, or profession.
(3) “Person” includes individuals, partnerships, corporations, and other associations.
(4) “Bankrupt” includes bankrupt under the Federal Bankruptcy Act or insolvent under any state insolvent act.
(5) “Conveyance” includes every assignment, lease, mortgage, or encumbrance. (6) “Real property” includes land and any interest or estate in land.
(7) “Registered limited liability partnership” includes a partnership formed pursuant to an agreement governed by the laws of this Commonwealth or a state or jurisdiction registered under KRS § 362.555 and complying with KRS § 14A.3-010.
Effective: January 1, 2011
History: Amended 2010 Ky. Acts ch. 151, sec. 148, effective January 1, 2011. — Repeal the prior repeal contained in 2006 Ky. Acts ch. 149, sec. 239, which was to have been effective January 1, 2008, 2007 Ky. Acts ch. 137, sec. 180, effective June
26, 2007. — Repealed 2006 Ky. Acts ch. 149, sec. 239, effective January 1, 2008. — Amended 1994 Ky. Acts ch. 389, sec. 94, effective July 15, 1994. — Created 1954
Ky. Acts ch. 38, sec. 2, effective June 17, 1954.
(1) “Court” includes every court and judge having jurisdiction in the case. (2) “Business” includes every trade, occupation, or profession.
Terms Used In Kentucky Statutes 362.155
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Federal: refers to the United States. See Kentucky Statutes 446.010
- 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.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(3) “Person” includes individuals, partnerships, corporations, and other associations.
(4) “Bankrupt” includes bankrupt under the Federal Bankruptcy Act or insolvent under any state insolvent act.
(5) “Conveyance” includes every assignment, lease, mortgage, or encumbrance. (6) “Real property” includes land and any interest or estate in land.
(7) “Registered limited liability partnership” includes a partnership formed pursuant to an agreement governed by the laws of this Commonwealth or a state or jurisdiction registered under KRS § 362.555 and complying with KRS § 14A.3-010.
Effective: January 1, 2011
History: Amended 2010 Ky. Acts ch. 151, sec. 148, effective January 1, 2011. — Repeal the prior repeal contained in 2006 Ky. Acts ch. 149, sec. 239, which was to have been effective January 1, 2008, 2007 Ky. Acts ch. 137, sec. 180, effective June
26, 2007. — Repealed 2006 Ky. Acts ch. 149, sec. 239, effective January 1, 2008. — Amended 1994 Ky. Acts ch. 389, sec. 94, effective July 15, 1994. — Created 1954
Ky. Acts ch. 38, sec. 2, effective June 17, 1954.