Find Bill
Find Your Legislator
Legislative Deadlines
RSS Feed Permanent URL -A +A

2016 Statute



Prev Article 72. - CLOSE CORPORATIONSNext


17-7209. Invalid transfer of close corporation's security; corporate option. If a restriction on the transfer of a security of a close corporation is held not to be authorized by K.S.A. 17-6426, and amendments thereto, the corporation, nevertheless, shall have an option, for a period of 30 days after the judgment setting aside the restriction becomes final, to acquire the restricted security at a price which is agreed upon by the parties, or if no agreement is reached as to price, then at the fair value as determined by the district court. In order to determine fair value, the court may appoint an appraiser to receive evidence and report to the court such appraiser's findings and recommendation as to fair value.

History: L. 1972, ch. 52, § 133; L. 2016, ch. 110, § 113; July 1.



Prev Article 72. - CLOSE CORPORATIONSNext