17-1289. Same; issuing public corporation, defined. - Kansas Statutes

17-1289

Chapter 17.--CORPORATIONS Article 12.--SECURITIES

      17-1289.   Same; issuing public corporation, defined. (a) An "issuing public corporation" means a corporation organized under the laws of the state of Kansas that has:

      (1)   One hundred or more shareholders;

      (2)   its principal place of business, its principal office, or substantial assets within Kansas; and

      (3)   either:

      (A)   More than 10% of its shareholders resident in Kansas;

      (B)   more than 10% of its shares owned by Kansas residents; or

      (C)   two thousand five hundred shareholders resident in Kansas.

      (b)   The residence of a shareholder is presumed to be the address appearing in the records of the corporation.

      (c)   Shares held by banks, except as trustee or guardian, brokers or nominees shall be disregarded for purposes of calculating the percentages or numbers described in this section.

      History:   L. 1988, ch. 93, § 4; April 21.