53-109. Prohibited notarial acts; financial or beneficial interest. - Kansas Statutes

53-109

Chapter 53.--NOTARIES PUBLIC AND COMMISSIONERS Article 1.--NOTARIES PUBLIC

      53-109.   Prohibited notarial acts; financial or beneficialinterest.(a) A notary public who has a direct financial or beneficial interest ina transaction shall not perform any notarial act in connection with suchtransaction.

      (b)   For purposes of this act, a notary public has a direct financialor beneficial interest in a transaction if the notary public:

      (1)   With respect to a financial transaction, is named, individually,as a principal to the transaction;

      (2)   with respect to real property, is named, individually, as agrantor, grantee, mortgagor, mortgagee, trustor, trustee, beneficiary,vendor, vendee, lessor or lessee, to the transaction.

      (c)   For purposes of this act, a notary public has no directfinancial or beneficial interest in a transaction when the notary publicacts in the capacity of an agent, employee, insurer, attorney, escrowagent or lender for a person having a direct financial or beneficialinterest in the transaction.

      History:   L. 1915, ch. 258, § 1; R.S. 1923, 53-109; L. 1980, ch.159, § 7; July 1.