Kansas · statute · Kan. Stat. Ann. ch. 56a · 60 active provisions
In this act: (a) "Business" includes every trade, occupation, and profession. (b) "Debtor in bankruptcy" means a person who is the subject of: (1) An order for relief under title 11 of the United States code or a comparable order under a successor statute of general application; or (2) a comparable order under federal,…
(a) A person knows a fact if the person has actual knowledge of it. (b) A person has notice of a fact if the person: (1) Knows of it; (2) has received a notification of it; or (3) has reason to know it exists from all of the facts known to the person at the time in question. (c) A person notifies or gives a notificatio…
(a) Except as otherwise provided in subsection (b), relations among the partners and between the partners and the partnership are governed by the partnership agreement. To the extent the partnership agreement does not otherwise provide, this act governs relations among the partners and between the partners and the part…
(a) Unless displaced by particular provisions of this act, the principles of law and equity supplement this act. (b) If an obligation to pay interest arises under this act and the rate is not specified, the rate is that specified in applicable statute.
(a) A statement may be filed in the office of the secretary of state. A certified copy of a statement that is filed in an office in another state may be filed in the office of the secretary of state. Any statement may be filed by telefacsimile or electronic communication if the telefacsimile or electronic communication…
(a) Except as otherwise provided in subsection (b), the law of the jurisdiction in which a partnership has its principal office governs relations among the partners and between the partners and the partnership. (b) The law of this state governs relations among the partners and between the partners and the partnership a…
A partnership governed by this act is subject to any amendment to or repeal of this act.
(a) A partnership is an entity distinct from its partners. (b) A limited liability partnership continues to be the same entity that existed before the filing of a statement of qualification under K.S.A. 56a-1001.
(a) Except as otherwise provided in subsection (b), the association of two or more persons to carry on as co-owners a business for profit forms a partnership, whether or not the persons intend to form a partnership. (b) An association formed under a statute other than this act, a predecessor statute, or a comparable st…
Property acquired by a partnership is property of the partnership and not of the partners individually.
(a) Property is partnership property if acquired in the name of: (1) The partnership; or (2) one or more partners with an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership but without an indication of the name of the partnership. (…
Subject to the effect of a statement of partnership authority under K.S.A. 56a-303: (a) Each partner is an agent of the partnership for the purpose of its business. An act of a partner, including the execution of an instrument in the partnership name, for apparently carrying on in the ordinary course the partnership bu…
(a) Partnership property may be transferred as follows: (1) Subject to the effect of a statement of partnership authority under K.S.A. 56a-303, partnership property held in the name of the partnership may be transferred by an instrument of transfer executed by a partner in the partnership name. (2) Partnership property…
(a) A partnership may file a statement of partnership authority, which: (1) Must include: (i) The name of the partnership; (ii) the street address of its principal office and of one office in this state, if there is one; (iii) the names and mailing addresses of all of the partners or of an agent appointed and maintaine…
A partner or other person named as a partner in a filed statement of partnership authority or in a list maintained by an agent pursuant to subsection (b) of K.S.A. 56a-303 may file a statement of denial stating the name of the partnership and the fact that is being denied, which may include denial of a person's authori…
(a) A partnership is liable for loss or injury caused to a person, or for a penalty incurred, as a result of a wrongful act or omission, or other actionable conduct, of a partner acting in the ordinary course of business of the partnership or with authority of the partnership. (b) If, in the course of the partnership's…
(a) Except as otherwise provided in subsections (b) and (c), all partners are liable jointly and severally for all obligations of the partnership unless otherwise agreed by the claimant or provided by law. (b) A person admitted as a partner into an existing partnership is not personally liable for any partnership oblig…
(a) A partnership may sue and be sued in the name of the partnership. (b) An action may be brought against the partnership and, to the extent not inconsistent with K.S.A. 56a-306 and amendments thereto, any or all of the partners in the same action or in separate actions. (c) A judgment against a partnership is not by…
(a) If a person, by words or conduct, purports to be a partner, or consents to being represented by another as a partner, in a partnership or with one or more persons not partners, the purported partner is liable to a person to whom the representation is made, if that person, relying on the representation, enters into…
(a) Each partner is deemed to have an account that is: (1) Credited with an amount equal to the money plus the value of any other property, net of the amount of any liabilities, the partner contributes to the partnership and the partner's share of the partnership profits; and (2) charged with an amount equal to the mon…
A partner has no right to receive, and may not be required to accept, a distribution in kind.
(a) A partnership shall keep its books and records, if any, at its principal office. (b) A partnership shall provide partners and their agents and attorneys access to its books and records. It shall provide former partners and their agents and attorneys access to books and records pertaining to the period during which…
(a) The only fiduciary duties a partner owes to the partnership and the other partners are the duty of loyalty and the duty of care set forth in subsections (b) and (c). (b) A partner's duty of loyalty to the partnership and the other partners is limited to the following: (1) To account to the partnership and hold as t…
(a) A partnership may maintain an action against a partner for a breach of the partnership agreement, or for the violation of a duty to the partnership, causing harm to the partnership. (b) A partner may maintain an action against the partnership or another partner for legal or equitable relief, with or without an acco…
(a) If a partnership for a definite term or particular undertaking is continued, without an express agreement, after the expiration of the term or completion of the undertaking, the rights and duties of the partners remain the same as they were at the expiration or completion, so far as is consistent with a partnership…