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Kansas Statutes Annotated

K.S.A. § 17-1268 (2026)

✓ current as of May 2026 Cite as: K.S.A. § 17-1268 (2026)
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17-1268.

History: L. 1957, ch. 145, § 17; L. 1967, ch. 122, § 4; L. 1979, ch. 61, § 6; L. 1982, ch. 100, § 1; L. 1997, ch. 62, § 10; Repealed, L. 2004, ch. 154, § 65; July 1, 2005.

CASE ANNOTATIONS

1. Evidence failed to establish any untrue statement of a material fact or omission to state a material fact. Allen v. Schauf, 202 Kan. 348, 353, 359, 449 P.2d 1010.

2. Corporation which materially aided in fraudulent transaction of unregistered agent liable, jointly and severally; attorney fees. Deets v. Hamilton Management Corp., 2 Kan. App. 2d 452, 454, 455, 581 P.2d 826.

3. Court without jurisdiction over nonresident directors of corporation involved in sale of unregistered limited partnership interests. Schlatter v. Mo-Comm Futures, Ltd., 233 Kan. 324, 325, 326, 337, 662 P.2d 553 (1983).

4. Cited; purpose of act explained; sale of "activator kits" constitutes sale of investment contracts (K.S.A. 17-1252(j)). Activator Supply Co. v. Wurth, 239 Kan. 610, 615, 621, 722 P.2d 1081 (1986).

5. Directors strictly liable to purchasers of unregistered securities sold in violation of statute; must prove absence of knowledge. Taylor v. Perdition Minerals Group, Ltd., 244 Kan. 126, 131, 766 P.2d 805 (1988).

6. Arbitration of claim against broker under Kansas securities clause where customer's margin securities account contained arbitration clause determined. Reed v. Bear, Stearns & Co., Inc., 698 F. Supp. 835 (D. Kan. 1988).

7. Statutes authorizing civil actions (K.S.A. 17-1266) and prohibiting sale of unregistered securities (K.S.A. 17-1255) held not unconstitutionally vague. State ex rel. Mays v. Ridenhour, 248 Kan. 919, 928, 811 P.2d 1220 (1991).

8. Section (a) applies only to initial offerings. Comeau v. Rupp, 810 F. Supp. 1127, 1132, 1133, 1156–60 (1992).

9. Discovery rule applies to state three-year statute of limitations for security fraud action. Mid Kansas Fed. S&L v. Orpheum Theater Co., 810 F. Supp. 1184, 1185, 1192 (1992).

10. Whether artful pleading doctrine applied to state law claims to provide jurisdiction for removal examined. Widmer v. Hibbard Brown and Co., Inc., 835 F. Supp. 1327, 1328 (1993); 835 F. Supp. 1331, 1332 (1993).

11. Whether fraud based security claim accrues upon sale of security or when plaintiffs discover fraud examined; which statute of limitations applies discussed. Kelly v. Primeline Advisory, Inc., 256 Kan. 978, 980, 991, 889 P.2d 130 (1995).

12. Sufficient evidence to show defendants should have known of fraudulent activity for liability under Kansas Securities Act. Sav-A-Trip, Inc. v. Belfort, 164 F.3d 1137 (1999).

13. Estimated attorney fees may be considered in determining whether diversity jurisdiction damages minimum was reached. Sheldon v. Vermonty, 53 F. Supp. 2d 1157, 1167 (1999).

14. Plaintiff entitled to award of attorney fees for state and federal securities fraud claim. Sheldon v. Vermonty, 237 F. Supp. 2d 1270, 1273 (2002).


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www.ksrevisor.gov 2026
Notes of Decisions
Cited in 30 cases, 1970–2013 · leading case: Comeau v. Rupp
Sort: Relevance Newest Treatment
Comeau v. Rupp (1992) ksd · cites it 49× “2d 321 (1991), and that “[tjhere is no authoritative statement of the statute of limitations applicable to K.S.A. 17-1268,” (Memo, in Support of Motion, Doc.”
Klein v. Oppenheimer & Co. (2006) kan · cites it 26× “17-1266, and K.S.A. 17-1268 authorizes a private right of action.”
Brenner v. Oppenheimer & Co. (2002) kan · cites it 9× “17-1255 and was therefore liable under K.S.A. 17-1268(a). Klein and Brenner alleged alternatively that Oppenheimer was a broker-dealer who materially aided in the sale of unregistered securities in violation of K.”
Taylor v. Perdition Minerals Group, Ltd. (1988) kan · cites it 21× “The Statute, K.S.A. 1987 Supp. 17-1268 K.S.A. 1987 Supp.”
Kelly v. Primeline Advisory, Inc. (1995) kan · cites it 17× “In ruling on the summary judgment motions, the district court stated: *992 “One further [issue] was presented, K.S.A. 17-1268, which provides for a course of action for ‘offer or sale’ of a security in violation of 17-1254 or 17-1255 or offers or sells a security by means of any…”
Sheldon v. Vermonty (2003) ksd · cites it 12× “§ 60-3702, and to hear argument on plaintiffs motion to alter or amend the judgment to include an award of attorney fees, costs, and interest pursuant to K.S.A. § 17-1268. Having considered all of the evidence introduced in the trial of this case and the additional evidence…”
State Ex Rel. Mays v. Ridenhour (1991) kan · cites it 5× “17-1267, to obtain criminal penalties; and K.S.A. 17-1268, to seek civil liability. Therefore, although the same terms are used in the federal and state statutes to define “sale” or “sell,” the basic framework in which the statutes are formulated shows a different approach…”
Mid Kansas Federal Savings & Loan Ass'n Ex Rel. Resolution Trust Corp. v. Orpheum Theater Co. (1992) ksd · cites it 6× “Cross-claimants assert that they are entitled to recover under K.S.A. § 17-1268, which establishes a cause of action for fraud in securities sales.”
Reed v. Bear, Stearns & Co., Inc. (1988) ksd · cites it 3× “Reed asserts that the Kansas securities laws include such a proscription.”
Schlatter v. Mo-Comm Futures, Ltd. (1983) kan · cites it 2× “00 and costs against the appellants, jointly and severally, pursuant to K.S.A. 17-1268(a). Appellants raise two questions on appeal: (1) Has subject matter jurisdiction been preempted by federal law in favor of a federal agency, and (2) are these individual defendants subject to…”
Law v. Law Co. Building Associates (2012) kan “Here, Law has based her reformation claim on mutual mistake, not fraud, and she cannot take advantage of the discovery exception in K.”
Seiffer v. Topsy's International, Inc. (1980) ksd · cites it 2× “10b-5], 3 and the Kansas Blue Sky Law [K.S.A. 17-1268] in that they participated in a scheme to create an active and rising market in Topsy’s stock up to the *659 date of the public offering of stock and debentures, by means of statements which contained misrepresentations or…”
Show all 30 citing cases →
— K.S.A. § 17-1268(a) — 14 cases
Comeau v. Rupp (1992) ksd “2d 321 (1991), and that “[tjhere is no authoritative statement of the statute of limitations applicable to K.S.A. 17-1268,” (Memo, in Support of Motion, Doc.”
Kelly v. Primeline Advisory, Inc. (1995) kan “In ruling on the summary judgment motions, the district court stated: *992 “One further [issue] was presented, K.S.A. 17-1268, which provides for a course of action for ‘offer or sale’ of a security in violation of 17-1254 or 17-1255 or offers or sells a security by means of any…”
Klein v. Oppenheimer & Co. (2006) kan “17-1266, and K.S.A. 17-1268 authorizes a private right of action.”
Brenner v. Oppenheimer & Co. (2002) kan “17-1255 and was therefore liable under K.S.A. 17-1268(a). Klein and Brenner alleged alternatively that Oppenheimer was a broker-dealer who materially aided in the sale of unregistered securities in violation of K.”
Sheldon v. Vermonty (2003) ksd “§ 60-3702, and to hear argument on plaintiffs motion to alter or amend the judgment to include an award of attorney fees, costs, and interest pursuant to K.S.A. § 17-1268. Having considered all of the evidence introduced in the trial of this case and the additional evidence…”
— K.S.A. § 17-1268(b) — 5 cases
Taylor v. Perdition Minerals Group, Ltd. (1988) kan “The Statute, K.S.A. 1987 Supp. 17-1268 K.S.A. 1987 Supp.”
Klein v. Oppenheimer & Co. (2006) kan “17-1266, and K.S.A. 17-1268 authorizes a private right of action.”
Brenner v. Oppenheimer & Co. (2002) kan “17-1255 and was therefore liable under K.S.A. 17-1268(a). Klein and Brenner alleged alternatively that Oppenheimer was a broker-dealer who materially aided in the sale of unregistered securities in violation of K.”
State Ex Rel. Mays v. Ridenhour (1991) kan “17-1267, to obtain criminal penalties; and K.S.A. 17-1268, to seek civil liability. Therefore, although the same terms are used in the federal and state statutes to define “sale” or “sell,” the basic framework in which the statutes are formulated shows a different approach…”
Comeau v. Rupp (1992) ksd “2d 321 (1991), and that “[tjhere is no authoritative statement of the statute of limitations applicable to K.S.A. 17-1268,” (Memo, in Support of Motion, Doc.”
— K.S.A. § 17-1268(d) — 2 cases
Brenner v. Oppenheimer & Co. (2002) kan “17-1255 and was therefore liable under K.S.A. 17-1268(a). Klein and Brenner alleged alternatively that Oppenheimer was a broker-dealer who materially aided in the sale of unregistered securities in violation of K.”
Reed v. Bear, Stearns & Co., Inc. (1988) ksd “Reed asserts that the Kansas securities laws include such a proscription.”
— K.S.A. § 17-1268(h) — 2 cases
Schlatter v. Mo-Comm Futures, Ltd. (1983) kan “00 and costs against the appellants, jointly and severally, pursuant to K.S.A. 17-1268(a). Appellants raise two questions on appeal: (1) Has subject matter jurisdiction been preempted by federal law in favor of a federal agency, and (2) are these individual defendants subject to…”
Deets v. Hamilton Management Corp. (1978) kanctapp
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