17-1349.Same; investment standards; acquisition of
property.
In acquiring, investing, reinvesting, exchanging, retaining, selling and
managing property for the benefit of any cemetery corporation now or
hereafter organized as provided in K.S.A. 17-1348, and amendments
thereto, the governing board shall exercise such judgment and care under
the circumstances then prevailing, which persons of prudence,
discretion and
intelligence exercise in the management of their own affairs, not in
regard to speculation but in regard to the permanent disposition of
their funds, considering the probable income as well as the probable
safety of its capital.
Within the limitations of the foregoing, the governing board of the
cemetery corporation is authorized to acquire and retain every kind of
property, real, personal or mixed, and every kind of investment,
specifically but not by way of limitation, bonds, debentures and other
corporate obligations, or loans secured by real estate mortgages, and
stocks, preferred or common, which persons of prudence,
discretion and
intelligence acquire or retain for their own account, and within the
limitations of the foregoing, the governing board of the cemetery
corporation may retain property properly acquired, without limitation as
to time and without regard to its suitability for original purchase.
History: L. 1951, ch. 215, § 2;
L. 2008, ch. 44, § 1; July 1.
17-1349.Same; investment standards; acquisition of
property.
In acquiring, investing, reinvesting, exchanging, retaining, selling and
managing property for the benefit of any cemetery corporation now or
hereafter organized as provided in K.S.A. 17-1348, and amendments
thereto, the governing board shall exercise such judgment and care under
the circumstances then prevailing, which persons of prudence,
discretion and
intelligence exercise in the management of their own affairs, not in
regard to speculation but in regard to the permanent disposition of
their funds, considering the probable income as well as the probable
safety of its capital.
Within the limitations of the foregoing, the governing board of the
cemetery corporation is authorized to acquire and retain every kind of
property, real, personal or mixed, and every kind of investment,
specifically but not by way of limitation, bonds, debentures and other
corporate obligations, or loans secured by real estate mortgages, and
stocks, preferred or common, which persons of prudence,
discretion and
intelligence acquire or retain for their own account, and within the
limitations of the foregoing, the governing board of the cemetery
corporation may retain property properly acquired, without limitation as
to time and without regard to its suitability for original purchase.
History: L. 1951, ch. 215, § 2;
L. 2008, ch. 44, § 1; July 1.
17-1349.Same; investment standards; acquisition of
property.
In acquiring, investing, reinvesting, exchanging, retaining, selling and
managing property for the benefit of any cemetery corporation now or
hereafter organized as provided in K.S.A. 17-1348, and amendments
thereto, the governing board shall exercise such judgment and care under
the circumstances then prevailing, which persons of prudence,
discretion and
intelligence exercise in the management of their own affairs, not in
regard to speculation but in regard to the permanent disposition of
their funds, considering the probable income as well as the probable
safety of its capital.
Within the limitations of the foregoing, the governing board of the
cemetery corporation is authorized to acquire and retain every kind of
property, real, personal or mixed, and every kind of investment,
specifically but not by way of limitation, bonds, debentures and other
corporate obligations, or loans secured by real estate mortgages, and
stocks, preferred or common, which persons of prudence,
discretion and
intelligence acquire or retain for their own account, and within the
limitations of the foregoing, the governing board of the cemetery
corporation may retain property properly acquired, without limitation as
to time and without regard to its suitability for original purchase.
History: L. 1951, ch. 215, § 2;
L. 2008, ch. 44, § 1; July 1.