Kansas Statutes Annotated
Updated Through the 2014 Legislative Session

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Statute Number:17-76,103
Chapter Title:CORPORATIONS
Article Title:LIMITED LIABILITY COMPANIES
Tax Type:Corporate Income Tax; Corporation Franchise Tax
Brief Description:Defense of usury not available.
Keywords:


Body:

17-76,103.Defense of usury not available.No obligation of a member or manager of a limited liability company to the limited liability company, or to a member or manager of the limited liability company, arising under the operating agreement or a separate agreement or writing, and no note, instrument or other writing evidencing any such obligation of a member or manager, shall be subject to the defense of usury, and no member or manager shall interpose the defense of usury with respect to any such obligation in any action.
History:L. 1999, ch. 119, 42; L. 2014, ch. 40, 31; July 1.



Date Composed: 11/14/2014 Date Modified: 11/14/2014

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