58-3316.Civil remedies for violations.(a) Any person who disposes of subdivided lands in violation of K.S.A. 58-3304,or who in disposing of subdivided lands makes an untruestatement of a material fact, or who in disposing of subdivided lands omitsa material fact required to be stated in a registration statement or publicoffering statement or necessary to make the statements made not misleading,is liable as provided in this section to the purchaser unless in the caseof an untruth or omission it is proved that the purchaser knew of theuntruth or omission or that the person offering or disposing of subdividedlands did not know and in the exercise of reasonable care could not haveknown of the untruth or omission, or that the purchaser did not rely on theuntruth or omission.
(b) In addition to any other remedies, the purchaser, under thepreceding subsection, may recover the consideration paid for the lot,parcel, unit or interest in subdivided lands together with interest at therate of 15% per year from the date of payment, property taxespaid, costs, and reasonable attorneys' fees less the amount of any incomereceived from the subdivided lands upon tender of appropriate instrumentsof reconveyance. If the purchaser no longer owns the lot, parcel, unit orinterest in subdivided lands, the purchaser may recover the amount thatwould be recoverable upon a tender of a reconveyance less the value of the land whendisposed of and less interest at the rate of 15% per year onthat amount from the date of disposition.
(c) Every person who directly or indirectly controls a subdivider liableunder subsection (a), every general partner, officer, or director of asubdivider, every person occupying a similar status or performing a similarfunction, every employee of the subdivider who materially aids in thedisposition, and every agent who materially aids in the disposition is alsoliable jointly and severally with and to the same extent as the subdivider,unless the person otherwise liable sustains the burden of proof that suchperson did not know and in the exercise of reasonable care could not haveknown of the existence of the facts by reason of which the liability isalleged to exist. There is a right to contribution as in cases of contract amongpersons so liable.
(d) Every person whose occupation gives authority to a statement whichwith such person's consent has been used in an application for registrationor public offering statement, if such personis not otherwise associated with the subdivision and development plan ina material way, is liable only for false statements and omissions in suchperson's statement and only if such personfails to prove that such person didnot know and in the exercise of the reasonable care of a person in suchperson's occupation could not have known of the existence of the facts byreason of which the liability is alleged to exist.
(e) A tender of reconveyance may be made at any time before the entry ofjudgment.
(f) A person may not recover under this section in actions commencedmore than four years after first payment of money to the subdivider in thecontested transaction.
(g) Any stipulation or provision purporting to bind any person acquiringsubdivided lands to waive compliance with this act or any rule or regulationor order under it is void.
History: L. 1967, ch. 311, § 16; L. 1976, ch. 241, § 14; L.1982, ch. 232, § 1; July 1.
58-3316.Civil remedies for violations.(a) Any person who disposes of subdivided lands in violation of K.S.A. 58-3304,or who in disposing of subdivided lands makes an untruestatement of a material fact, or who in disposing of subdivided lands omitsa material fact required to be stated in a registration statement or publicoffering statement or necessary to make the statements made not misleading,is liable as provided in this section to the purchaser unless in the caseof an untruth or omission it is proved that the purchaser knew of theuntruth or omission or that the person offering or disposing of subdividedlands did not know and in the exercise of reasonable care could not haveknown of the untruth or omission, or that the purchaser did not rely on theuntruth or omission.
(b) In addition to any other remedies, the purchaser, under thepreceding subsection, may recover the consideration paid for the lot,parcel, unit or interest in subdivided lands together with interest at therate of 15% per year from the date of payment, property taxespaid, costs, and reasonable attorneys' fees less the amount of any incomereceived from the subdivided lands upon tender of appropriate instrumentsof reconveyance. If the purchaser no longer owns the lot, parcel, unit orinterest in subdivided lands, the purchaser may recover the amount thatwould be recoverable upon a tender of a reconveyance less the value of the land whendisposed of and less interest at the rate of 15% per year onthat amount from the date of disposition.
(c) Every person who directly or indirectly controls a subdivider liableunder subsection (a), every general partner, officer, or director of asubdivider, every person occupying a similar status or performing a similarfunction, every employee of the subdivider who materially aids in thedisposition, and every agent who materially aids in the disposition is alsoliable jointly and severally with and to the same extent as the subdivider,unless the person otherwise liable sustains the burden of proof that suchperson did not know and in the exercise of reasonable care could not haveknown of the existence of the facts by reason of which the liability isalleged to exist. There is a right to contribution as in cases of contract amongpersons so liable.
(d) Every person whose occupation gives authority to a statement whichwith such person's consent has been used in an application for registrationor public offering statement, if such personis not otherwise associated with the subdivision and development plan ina material way, is liable only for false statements and omissions in suchperson's statement and only if such personfails to prove that such person didnot know and in the exercise of the reasonable care of a person in suchperson's occupation could not have known of the existence of the facts byreason of which the liability is alleged to exist.
(e) A tender of reconveyance may be made at any time before the entry ofjudgment.
(f) A person may not recover under this section in actions commencedmore than four years after first payment of money to the subdivider in thecontested transaction.
(g) Any stipulation or provision purporting to bind any person acquiringsubdivided lands to waive compliance with this act or any rule or regulationor order under it is void.
History: L. 1967, ch. 311, § 16; L. 1976, ch. 241, § 14; L.1982, ch. 232, § 1; July 1.
58-3316.Civil remedies for violations.(a) Any person who disposes of subdivided lands in violation of K.S.A. 58-3304,or who in disposing of subdivided lands makes an untruestatement of a material fact, or who in disposing of subdivided lands omitsa material fact required to be stated in a registration statement or publicoffering statement or necessary to make the statements made not misleading,is liable as provided in this section to the purchaser unless in the caseof an untruth or omission it is proved that the purchaser knew of theuntruth or omission or that the person offering or disposing of subdividedlands did not know and in the exercise of reasonable care could not haveknown of the untruth or omission, or that the purchaser did not rely on theuntruth or omission.
(b) In addition to any other remedies, the purchaser, under thepreceding subsection, may recover the consideration paid for the lot,parcel, unit or interest in subdivided lands together with interest at therate of 15% per year from the date of payment, property taxespaid, costs, and reasonable attorneys' fees less the amount of any incomereceived from the subdivided lands upon tender of appropriate instrumentsof reconveyance. If the purchaser no longer owns the lot, parcel, unit orinterest in subdivided lands, the purchaser may recover the amount thatwould be recoverable upon a tender of a reconveyance less the value of the land whendisposed of and less interest at the rate of 15% per year onthat amount from the date of disposition.
(c) Every person who directly or indirectly controls a subdivider liableunder subsection (a), every general partner, officer, or director of asubdivider, every person occupying a similar status or performing a similarfunction, every employee of the subdivider who materially aids in thedisposition, and every agent who materially aids in the disposition is alsoliable jointly and severally with and to the same extent as the subdivider,unless the person otherwise liable sustains the burden of proof that suchperson did not know and in the exercise of reasonable care could not haveknown of the existence of the facts by reason of which the liability isalleged to exist. There is a right to contribution as in cases of contract amongpersons so liable.
(d) Every person whose occupation gives authority to a statement whichwith such person's consent has been used in an application for registrationor public offering statement, if such personis not otherwise associated with the subdivision and development plan ina material way, is liable only for false statements and omissions in suchperson's statement and only if such personfails to prove that such person didnot know and in the exercise of the reasonable care of a person in suchperson's occupation could not have known of the existence of the facts byreason of which the liability is alleged to exist.
(e) A tender of reconveyance may be made at any time before the entry ofjudgment.
(f) A person may not recover under this section in actions commencedmore than four years after first payment of money to the subdivider in thecontested transaction.
(g) Any stipulation or provision purporting to bind any person acquiringsubdivided lands to waive compliance with this act or any rule or regulationor order under it is void.
History: L. 1967, ch. 311, § 16; L. 1976, ch. 241, § 14; L.1982, ch. 232, § 1; July 1.
