17-7668.Nature of business permitted;
powers.
(a) Unless otherwise
specifically prohibited by law, a limited liability company may
carry on any lawful business, purpose or activity, whether or not for profit
with the exception of the
business of granting policies of insurance, or assuming insurance risks or
banking as defined in
K.S.A. 9-702, and amendments thereto.
(b) A limited liability company shall possess and may exercise all the powers
and privileges
granted by this act or by any other law or by its operating agreement, together
with any powers
incidental thereto, so far as such powers and privileges are necessary or
convenient to the conduct,
promotion or attainment of the business, purposes or activities of the limited
liability company.
(c) A limited liability company organized and existing under the Kansas
limited liability
company act or otherwise qualified to do business in Kansas may have and
exercise all powers which
may be exercised by a Kansas professional association or professional
corporation under the
professional corporation law of Kansas, including employment of professionals
to practice a
profession, which shall be limited to the practice of one profession, except as
provided in K.S.A. 17-2710, and amendments thereto.
(d) Only a qualified person may be a member of a limited liability company
organized to
exercise powers of a professional association or professional corporation. No
membership may be
transferred to another person until there is presented to such limited
liability company a certificate
by the licensing body, as defined in K.S.A. 74-146, and amendments
thereto, stating that
the person to whom the transfer is made or the membership issued is duly
licensed to render the same
type of professional services as that for which the limited liability company
was organized.
(e) As used in the section, "qualified person" means:
(1) Any natural person licensed to practice the same type of profession which
any
professional corporation is authorized to practice;
(2) the trustee of a trust which is a qualified trust under subsection (a)
of section 401 of the
federal internal revenue code of 1986, as in effect, on July 1, 1999, or of a
contribution plan which
is a qualified employee stock ownership plan under subsection (a) of section
409A of the federal
internal revenue code of 1986, as in effect, on July 1, 1999;
(3) the trustee of a revocable living trust established by a natural person
who is licensed to
practice the type of profession which any professional corporation is
authorized to practice, if the
terms of such trust provide that such natural person is the principal
beneficiary and sole trustee of
such trust and such trust does not continue to hold title to membership in the
limited liability
company following such natural person's death for more than a reasonable
period of time necessary
to dispose of such membership; or
(4) a Kansas professional corporation or foreign professional corporation in
which at least
one member or shareholder is authorized by a licensing body, as defined in
K.S.A. 74-146, and amendments thereto, to render in this state a
professional service permitted by the articles
of organization; or
(5) a general partnership or limited liability company, if all partners or
members thereof are
authorized to render the professional services permitted by the articles of
organization of the issuing
limited liability company formed pursuant to this section and in which at least
one partner or member
is authorized by a licensing authority of this state to render in this state
the professional services
permitted by the articles of organization of the limited liability company.
(f) Nothing in this act shall restrict or limit in any manner the authority
and duty of any licensing body, as defined in K.S.A. 74-146, and
amendments thereto, for the licensing
of individual persons rendering a professional service or the practice of the
profession which is
within the jurisdiction of the licensing body, notwithstanding that the person
is an officer, manager,
member or employee of a limited liability company organized to exercise powers
of a professional
association or corporation. Each licensing body may adopt rules and
regulations governing the
practice of each profession as are necessary to enforce and comply with this
act and the law
applicable to each profession.
(g) A licensing body, as defined in K.S.A. 74-146, and amendments
thereto, the
attorney general or district or county attorney may bring an action in the name
of the state of Kansas
in quo warranto or injunction against a limited liability company engaging in
the practice of a
profession with complying with the provisions of this act.
(h) A limited liability company organized to exercise powers of a
professional association
or professional corporation under the Kansas limited liability company act
prior to July 1, 1999, shall
file with the secretary of state at the time of making an annual report for the
calendar year 1999 a
certificate by the licensing body, as defined in K.S.A. 74-146, and
amendments thereto,
of the profession involved that each of the members is duly licensed to
practice that profession, and
that the proposed company name has been approved.
17-7668.Nature of business permitted;
powers.
(a) Unless otherwise
specifically prohibited by law, a limited liability company may
carry on any lawful business, purpose or activity, whether or not for profit
with the exception of the
business of granting policies of insurance, or assuming insurance risks or
banking as defined in
K.S.A. 9-702, and amendments thereto.
(b) A limited liability company shall possess and may exercise all the powers
and privileges
granted by this act or by any other law or by its operating agreement, together
with any powers
incidental thereto, so far as such powers and privileges are necessary or
convenient to the conduct,
promotion or attainment of the business, purposes or activities of the limited
liability company.
(c) A limited liability company organized and existing under the Kansas
limited liability
company act or otherwise qualified to do business in Kansas may have and
exercise all powers which
may be exercised by a Kansas professional association or professional
corporation under the
professional corporation law of Kansas, including employment of professionals
to practice a
profession, which shall be limited to the practice of one profession, except as
provided in K.S.A. 17-2710, and amendments thereto.
(d) Only a qualified person may be a member of a limited liability company
organized to
exercise powers of a professional association or professional corporation. No
membership may be
transferred to another person until there is presented to such limited
liability company a certificate
by the licensing body, as defined in K.S.A. 74-146, and amendments
thereto, stating that
the person to whom the transfer is made or the membership issued is duly
licensed to render the same
type of professional services as that for which the limited liability company
was organized.
(e) As used in the section, "qualified person" means:
(1) Any natural person licensed to practice the same type of profession which
any
professional corporation is authorized to practice;
(2) the trustee of a trust which is a qualified trust under subsection (a)
of section 401 of the
federal internal revenue code of 1986, as in effect, on July 1, 1999, or of a
contribution plan which
is a qualified employee stock ownership plan under subsection (a) of section
409A of the federal
internal revenue code of 1986, as in effect, on July 1, 1999;
(3) the trustee of a revocable living trust established by a natural person
who is licensed to
practice the type of profession which any professional corporation is
authorized to practice, if the
terms of such trust provide that such natural person is the principal
beneficiary and sole trustee of
such trust and such trust does not continue to hold title to membership in the
limited liability
company following such natural person's death for more than a reasonable
period of time necessary
to dispose of such membership; or
(4) a Kansas professional corporation or foreign professional corporation in
which at least
one member or shareholder is authorized by a licensing body, as defined in
K.S.A. 74-146, and amendments thereto, to render in this state a
professional service permitted by the articles
of organization; or
(5) a general partnership or limited liability company, if all partners or
members thereof are
authorized to render the professional services permitted by the articles of
organization of the issuing
limited liability company formed pursuant to this section and in which at least
one partner or member
is authorized by a licensing authority of this state to render in this state
the professional services
permitted by the articles of organization of the limited liability company.
(f) Nothing in this act shall restrict or limit in any manner the authority
and duty of any licensing body, as defined in K.S.A. 74-146, and
amendments thereto, for the licensing
of individual persons rendering a professional service or the practice of the
profession which is
within the jurisdiction of the licensing body, notwithstanding that the person
is an officer, manager,
member or employee of a limited liability company organized to exercise powers
of a professional
association or corporation. Each licensing body may adopt rules and
regulations governing the
practice of each profession as are necessary to enforce and comply with this
act and the law
applicable to each profession.
(g) A licensing body, as defined in K.S.A. 74-146, and amendments
thereto, the
attorney general or district or county attorney may bring an action in the name
of the state of Kansas
in quo warranto or injunction against a limited liability company engaging in
the practice of a
profession with complying with the provisions of this act.
(h) A limited liability company organized to exercise powers of a
professional association
or professional corporation under the Kansas limited liability company act
prior to July 1, 1999, shall
file with the secretary of state at the time of making an annual report for the
calendar year 1999 a
certificate by the licensing body, as defined in K.S.A. 74-146, and
amendments thereto,
of the profession involved that each of the members is duly licensed to
practice that profession, and
that the proposed company name has been approved.
17-7668.Nature of business permitted;
powers.
(a) Unless otherwise
specifically prohibited by law, a limited liability company may
carry on any lawful business, purpose or activity, whether or not for profit
with the exception of the
business of granting policies of insurance, or assuming insurance risks or
banking as defined in
K.S.A. 9-702, and amendments thereto.
(b) A limited liability company shall possess and may exercise all the powers
and privileges
granted by this act or by any other law or by its operating agreement, together
with any powers
incidental thereto, so far as such powers and privileges are necessary or
convenient to the conduct,
promotion or attainment of the business, purposes or activities of the limited
liability company.
(c) A limited liability company organized and existing under the Kansas
limited liability
company act or otherwise qualified to do business in Kansas may have and
exercise all powers which
may be exercised by a Kansas professional association or professional
corporation under the
professional corporation law of Kansas, including employment of professionals
to practice a
profession, which shall be limited to the practice of one profession, except as
provided in K.S.A. 17-2710, and amendments thereto.
(d) Only a qualified person may be a member of a limited liability company
organized to
exercise powers of a professional association or professional corporation. No
membership may be
transferred to another person until there is presented to such limited
liability company a certificate
by the licensing body, as defined in K.S.A. 74-146, and amendments
thereto, stating that
the person to whom the transfer is made or the membership issued is duly
licensed to render the same
type of professional services as that for which the limited liability company
was organized.
(e) As used in the section, "qualified person" means:
(1) Any natural person licensed to practice the same type of profession which
any
professional corporation is authorized to practice;
(2) the trustee of a trust which is a qualified trust under subsection (a)
of section 401 of the
federal internal revenue code of 1986, as in effect, on July 1, 1999, or of a
contribution plan which
is a qualified employee stock ownership plan under subsection (a) of section
409A of the federal
internal revenue code of 1986, as in effect, on July 1, 1999;
(3) the trustee of a revocable living trust established by a natural person
who is licensed to
practice the type of profession which any professional corporation is
authorized to practice, if the
terms of such trust provide that such natural person is the principal
beneficiary and sole trustee of
such trust and such trust does not continue to hold title to membership in the
limited liability
company following such natural person's death for more than a reasonable
period of time necessary
to dispose of such membership; or
(4) a Kansas professional corporation or foreign professional corporation in
which at least
one member or shareholder is authorized by a licensing body, as defined in
K.S.A. 74-146, and amendments thereto, to render in this state a
professional service permitted by the articles
of organization; or
(5) a general partnership or limited liability company, if all partners or
members thereof are
authorized to render the professional services permitted by the articles of
organization of the issuing
limited liability company formed pursuant to this section and in which at least
one partner or member
is authorized by a licensing authority of this state to render in this state
the professional services
permitted by the articles of organization of the limited liability company.
(f) Nothing in this act shall restrict or limit in any manner the authority
and duty of any licensing body, as defined in K.S.A. 74-146, and
amendments thereto, for the licensing
of individual persons rendering a professional service or the practice of the
profession which is
within the jurisdiction of the licensing body, notwithstanding that the person
is an officer, manager,
member or employee of a limited liability company organized to exercise powers
of a professional
association or corporation. Each licensing body may adopt rules and
regulations governing the
practice of each profession as are necessary to enforce and comply with this
act and the law
applicable to each profession.
(g) A licensing body, as defined in K.S.A. 74-146, and amendments
thereto, the
attorney general or district or county attorney may bring an action in the name
of the state of Kansas
in quo warranto or injunction against a limited liability company engaging in
the practice of a
profession with complying with the provisions of this act.
(h) A limited liability company organized to exercise powers of a
professional association
or professional corporation under the Kansas limited liability company act
prior to July 1, 1999, shall
file with the secretary of state at the time of making an annual report for the
calendar year 1999 a
certificate by the licensing body, as defined in K.S.A. 74-146, and
amendments thereto,
of the profession involved that each of the members is duly licensed to
practice that profession, and
that the proposed company name has been approved.