Kansas Statutes Annotated

K.S.A. § 17-2028 (2026)

Definitions

✓ current as of May 2026

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17-2028. Definitions. For the purposes of this act:

(a) A "business trust" is an unincorporated business association of the type which at common law was known as a "common-law trust," "business trust," or "Massachusetts trust," created by a trust instrument under which property is held, managed, administered, controlled, invested, reinvested, and operated by trustees for the benefit and profit of such persons as are or may become the holders of transferable certificates evidencing beneficial interests in the trust estate, the holders of which certificates are entitled to the same limitation of personal liability extended to stockholders of private corporations for profit;

(b) a "domestic" business trust is one created under the laws of this state;

(c) a "foreign" business trust is one created under the laws of a foreign country or of a territory or state other than Kansas; and

(d) the "corpus" of any business trust is equivalent to the capital and accumulated earnings or earned surplus of a corporation.

History: L. 1961, ch. 127, § 2; April 29.

Notes of Decisions

Cited in 2 cases, 1977–1981 · leading case: In Re the Appeal of Armed Forces Coop. Insuring Ass'n, 625 P.2d 11 (Kan. Ct. App. 1981).

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In Re the Appeal of Armed Forces Coop. Insuring Ass'n, 625 P.2d 11 (Kan. Ct. App. 1981). “17-2028, the definition section of the Kansas Business Trust Act, provides: “(a) A ‘business trust’ is an unincorporated business association of the type which at common law was known as a ‘common-law trust,’ ‘business trust,’ or ‘Massachusetts trust,’ created by a trust…”

Gilmer v. Kansas City West Land Co., 571 P.2d 36 (Kan. Ct. App. 1977). “Defendants’ motions to quash and/or dismiss are generally based upon plaintiffs’ failure to comply with the statutory requirements of K.S.A. 17-2028 through 17-2035 relative to a ‘business trust’ or ‘Massachusetts Trust’ being permitted to conduct business in this state.”

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