Swine Facility Improvement Definitions Continued
CORPORATION
Corporation means a domestic or foreign
corporation organized for profit or nonprofit purposes.
FARMING
Farming means the cultivation of land for the production of agricultural
crops, the raising of poultry, the production of eggs, the production
of milk, the production of fruit or other horticultural crops, grazing
or the production of livestock. Farming does not include the production
of timber, forest products, nursery products or sod, and farming
does not include a contract to provide spraying, harvesting or other
farm services.
AGRICULTURAL
LAND
Agricultural land means land suitable for use in farming.
FIDUCIARY
CAPACITY
Fiduciary capacity means an undertaking to act as executor, administrator,
guardian, conservator, trustee for a family
trust, authorized trust
or testamentary trust or receiver
or trustee in bankruptcy.
NONPROFIT
CORPORATION
Nonprofit corporation means a corporation organized not for profit
and which qualifies under section 501(c)(3) of the federal internal
revenue code of 1986 as amended.
LIMITED
LIABILITY COMPANY
Limited liability company or company means a limited liability company
organized and existing under the Kansas limited liability company
act.
CORPORATE
PARTNERSHIP
Corporate partnership means a partnership as defined in K.S.A.
56a-101, and amendments thereto, which has within the association
one or more corporations or one or more limited
liability companies.
LIMITED
PARTNERSHIP
Limited partnership and domestic limited partnership mean a partnership
formed by two or more persons under the laws of the state of Kansas
and having one or more general partners and one
or more limited partners.
TRUST
Trust means a fiduciary relationship with respect to property, subjecting
the person by whom the property is held to equitable duties to deal
with the property for the benefit of another person, which arises
as a result of a manifestation of an intention to create it. A trust
includes a legal entity holding property as trustee, agent, escrow
agent, attorney-in-fact and in any similar capacity.
K.S.A.
56a-101
A partnership is an association of two or more persons to carry
on as co-owners a business for profit.
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GENERAL PARTNER
General partner means a person who has been admitted
to a limited partnership as a general partner in accordance with
the partnership agreement and so named in the certificate of limited
partnership or similar instrument of the state or foreign country
under which the limited partnership is organized if so required.
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LIMITED PARTNER
Limited partner means a person who has been admitted
to a limited partnership as a limited partner in accordance with
the partnership agreement.
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