17-6807.   Continuation of corporation after dissolution forpurposes of settling and closing business affairs.All corporations, whether they expire by their own limitation or areotherwise dissolved, including revocation or forfeiture of articles ofincorporation pursuant to K.S.A. 17-6812 or 17-7510, and amendments thereto, shall becontinued, nevertheless, for the term of three years from suchexpiration or dissolution or for such longer period as the districtcourt in its discretion shall direct, bodies corporate for the purposeof prosecuting and defending suits, whether civil, criminal oradministrative, by or against them, and of enabling them gradually tosettle and close their business, to dispose of and convey theirproperty, to discharge their liabilities and to distribute to theirstockholders any remaining assets, but not for the purpose of continuingthe business for which the corporation was organized. With respect toany action, suit or proceeding begun by or against the corporationeither prior to or within three years after the date of itsexpiration or dissolution, the action shall not abate byreason of the dissolution of the corporation; and the corporation shall, solelyfor the purpose of such action, suit or proceeding, be continued as a bodycorporate beyond the three-year period and until any judgments, orders ordecrees thereon shall be executed, without the necessity for any specialdirection to that effect.

      History:   L. 1972, ch. 52, § 97; L. 1973, ch. 100, § 13;L. 1988, ch. 99, § 48; Revived and amend., L. 1988, ch. 100, § 48; May 5.