17-2028.Same; definitions.
For the purposes of this act:
(a) A "business trust" is an unincorporated business association of the
type which at common law was known as a "common-law trust," "business
trust," or "Massachusetts trust," created by a trust instrument under which
property is held, managed, administered, controlled, invested, reinvested,
and operated by trustees for the benefit and profit of such persons as are
or may become the holders of transferable certificates evidencing
beneficial interests in the trust estate, the holders of which certificates
are entitled to the same limitation of personal liability extended to
stockholders of private corporations for profit;
(b) a "domestic" business trust is one created under the laws of this
state;
(c) a "foreign" business trust is one created under the laws of a
foreign country or of a territory or state other than Kansas; and
(d) the "corpus" of any business trust is equivalent to the capital and
accumulated earnings or earned surplus of a corporation.
17-2028.Same; definitions.
For the purposes of this act:
(a) A "business trust" is an unincorporated business association of the
type which at common law was known as a "common-law trust," "business
trust," or "Massachusetts trust," created by a trust instrument under which
property is held, managed, administered, controlled, invested, reinvested,
and operated by trustees for the benefit and profit of such persons as are
or may become the holders of transferable certificates evidencing
beneficial interests in the trust estate, the holders of which certificates
are entitled to the same limitation of personal liability extended to
stockholders of private corporations for profit;
(b) a "domestic" business trust is one created under the laws of this
state;
(c) a "foreign" business trust is one created under the laws of a
foreign country or of a territory or state other than Kansas; and
(d) the "corpus" of any business trust is equivalent to the capital and
accumulated earnings or earned surplus of a corporation.
17-2028.Same; definitions.
For the purposes of this act:
(a) A "business trust" is an unincorporated business association of the
type which at common law was known as a "common-law trust," "business
trust," or "Massachusetts trust," created by a trust instrument under which
property is held, managed, administered, controlled, invested, reinvested,
and operated by trustees for the benefit and profit of such persons as are
or may become the holders of transferable certificates evidencing
beneficial interests in the trust estate, the holders of which certificates
are entitled to the same limitation of personal liability extended to
stockholders of private corporations for profit;
(b) a "domestic" business trust is one created under the laws of this
state;
(c) a "foreign" business trust is one created under the laws of a
foreign country or of a territory or state other than Kansas; and
(d) the "corpus" of any business trust is equivalent to the capital and
accumulated earnings or earned surplus of a corporation.
