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17-6409. Shares of stock deemed personal property and transferable; taxation. The shares of stock in every corporation shall be deemed personal property and transferable as provided in the acts contained in article 8 of chapter 84 of the Kansas Statutes Annotated, and amendments thereto. No stock or bonds issued by any corporation organized under this code shall be taxed by this state when the same shall be owned by nonresidents of this state, or by foreign corporations. Whenever any transfer of shares shall be made for collateral security, and not absolutely, it shall be so expressed in the entry of the transfer if, when the certificates are presented to the corporation for transfer or uncertificated shares are requested to be transferred, both the transferor and transferee request the corporation to do so.

History: L. 1972, ch. 52, § 36; L. 1986, ch. 399, § 6; L. 1988, ch. 99, § 14; Revived and amended, L. 1988, ch. 100, § 14; L. 2016, ch. 110, § 36; July 1.

Source or Prior Law:

8 Del. C. § 159.

Cross References to Related Sections:

Situs of ownership of stock, see 17-6419.

Similar provisions, see 17-6425.

Capital stock deemed personal property for taxation purposes, see 79-102.

Law Review and Bar Journal References:

"The Kansas Corporation Code of 1972," William E. Treadway, 40 J.B.A.K. 301, 342 (1971).


1. Cited; voluntary transfer of professional corporation stock to one not "qualified" (K.S.A. 17-2707) held null and void under K.S.A. 17-2712. Central State Bank v. Albright, 12 Kan. App. 2d 175, 176, 180, 737 P.2d 65 (1987).

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