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Attorney General Opinion No. 1983-165

Attorney General Opinion No. 1983-165 PDF Author: Robert T. Stephan
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Languages : en
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K.S.A. 41-2623(e) requires that all the members of a partnership be individually qualified to obtain a license before the partnership itself can secure a license. However, subsection (f) of the same statute exempts stockholders of a corporation who own 5% or less of the corporate stock from any requirements. In that the limited partners of a partnership organized under K.S.A. 56-122 e̲t̲ s̲e̲q̲. (the Kansas Limited Partnership Act) have the attributes of shareholders in a corporation rather than partners in a general partnership, the requirements of subsection (f) of K.S.A. 41-2623 should be applied as to such partners in the granting of a license to a limited partnership. Cited herein: K.S.A. 41-2623, 56-125, 56-126, 56-128, 56-131.
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