17-2037.Same; surrender of authority; resolution;
withdrawal fee; annual reports and fees; closing out business; effect of
withdrawal.
Any business trust, domestic or foreign, which has obtained authority under
this act to transact business in Kansas may surrender its authority at any time
by filing in the office of the secretary of state a certified copy of a
resolution duly adopted by its trustees declaring its intention to withdraw,
accompanied by a withdrawal fee of $20; and filing all annual reports and
paying all annual report fees required by K.S.A.
17-2036
and amendments thereto, and not previously filed and paid. During a period of
five years following the effective date of such withdrawal the business trust
shall nevertheless be entitled to convey and dispose of its property and assets
in this state, settle and close out its business in this state, and perform any
other act or acts pertinent to the liquidation of its business, property, and
assets in this state, and to prosecute and defend all suits filed prior to the
expiration of such five-year period involving causes of action arising prior to
the effective date of such withdrawal or arising out of any act or transaction
occurring during such five-year period in the course of the liquidation of its
business, property or assets.
The withdrawal of a business trust as provided in this section shall have no
effect upon any suit filed by or against it prior to the expiration of such
five-year period until such suit has been finally determined or otherwise
finally concluded and all judgments, orders and decrees entered therein have
been fully executed, even though such final determination, conclusion, or
execution occurs after the expiration of such five-year period. With respect to
a foreign business trust, withdrawal pursuant to this section shall not affect
its written consent to be sued in the courts of this state, or the
jurisdiction over such foreign business trust of the courts of this state,
with respect to any cause of action which arose prior to the effective date
of its withdrawal.
History: L. 1961, ch. 127, § 11;
L. 1973, ch. 91, § 5;
L. 1998, ch. 189, § 5;
L. 2005, ch. 157, § 4; Jan. 1, 2006.
17-2037.Same; surrender of authority; resolution;
withdrawal fee; annual reports and fees; closing out business; effect of
withdrawal.
Any business trust, domestic or foreign, which has obtained authority under
this act to transact business in Kansas may surrender its authority at any time
by filing in the office of the secretary of state a certified copy of a
resolution duly adopted by its trustees declaring its intention to withdraw,
accompanied by a withdrawal fee of $20; and filing all annual reports and
paying all annual report fees required by K.S.A.
17-2036
and amendments thereto, and not previously filed and paid. During a period of
five years following the effective date of such withdrawal the business trust
shall nevertheless be entitled to convey and dispose of its property and assets
in this state, settle and close out its business in this state, and perform any
other act or acts pertinent to the liquidation of its business, property, and
assets in this state, and to prosecute and defend all suits filed prior to the
expiration of such five-year period involving causes of action arising prior to
the effective date of such withdrawal or arising out of any act or transaction
occurring during such five-year period in the course of the liquidation of its
business, property or assets.
The withdrawal of a business trust as provided in this section shall have no
effect upon any suit filed by or against it prior to the expiration of such
five-year period until such suit has been finally determined or otherwise
finally concluded and all judgments, orders and decrees entered therein have
been fully executed, even though such final determination, conclusion, or
execution occurs after the expiration of such five-year period. With respect to
a foreign business trust, withdrawal pursuant to this section shall not affect
its written consent to be sued in the courts of this state, or the
jurisdiction over such foreign business trust of the courts of this state,
with respect to any cause of action which arose prior to the effective date
of its withdrawal.
History: L. 1961, ch. 127, § 11;
L. 1973, ch. 91, § 5;
L. 1998, ch. 189, § 5;
L. 2005, ch. 157, § 4; Jan. 1, 2006.
17-2037.Same; surrender of authority; resolution;
withdrawal fee; annual reports and fees; closing out business; effect of
withdrawal.
Any business trust, domestic or foreign, which has obtained authority under
this act to transact business in Kansas may surrender its authority at any time
by filing in the office of the secretary of state a certified copy of a
resolution duly adopted by its trustees declaring its intention to withdraw,
accompanied by a withdrawal fee of $20; and filing all annual reports and
paying all annual report fees required by K.S.A.
17-2036
and amendments thereto, and not previously filed and paid. During a period of
five years following the effective date of such withdrawal the business trust
shall nevertheless be entitled to convey and dispose of its property and assets
in this state, settle and close out its business in this state, and perform any
other act or acts pertinent to the liquidation of its business, property, and
assets in this state, and to prosecute and defend all suits filed prior to the
expiration of such five-year period involving causes of action arising prior to
the effective date of such withdrawal or arising out of any act or transaction
occurring during such five-year period in the course of the liquidation of its
business, property or assets.
The withdrawal of a business trust as provided in this section shall have no
effect upon any suit filed by or against it prior to the expiration of such
five-year period until such suit has been finally determined or otherwise
finally concluded and all judgments, orders and decrees entered therein have
been fully executed, even though such final determination, conclusion, or
execution occurs after the expiration of such five-year period. With respect to
a foreign business trust, withdrawal pursuant to this section shall not affect
its written consent to be sued in the courts of this state, or the
jurisdiction over such foreign business trust of the courts of this state,
with respect to any cause of action which arose prior to the effective date
of its withdrawal.
History: L. 1961, ch. 127, § 11;
L. 1973, ch. 91, § 5;
L. 1998, ch. 189, § 5;
L. 2005, ch. 157, § 4; Jan. 1, 2006.