Kansas Statutes Annotated
Updated Through the 2019 Legislative Session

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Statute Number:17-76,153
Chapter Title:CORPORATIONS
Article Title:LIMITED LIABILITY COMPANIES
Tax Type:Corporate Income Tax; Corporation Franchise Tax
Brief Description:Same; derivative lawsuits.
Keywords:


Body:

17-76,153.Same; derivative lawsuits.Members of a statutory public benefit limited liability company or assignees of limited liability company interests in a statutory public benefit limited liability company owning individually or collectively, as of the date of instituting such derivative suit, at least 2% of the then-current percentage or other interest in the profits of the limited liability company or, in the case of a limited liability company with limited liability company interests listed on a national securities exchange, the lesser of such percentage or limited liability company interests of at least $2,000,000 in market value, unless an operating agreement provides for a different percentage or other interest or market value, may maintain a derivative lawsuit to enforce the requirements set forth in K.S.A. 2019 Supp.17-76,151(a), and amendments thereto.
History:L. 2019, ch. 47, 10; July 1.



Date Composed: 10/15/2019 Date Modified: 10/15/2019

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