76-6a07. Insurance by lessee; pledge of rentals for construction and equipment; limitations. The nonprofit corporation erecting a building upon grounds leased under the authority of this act shall keep such building and its furniture and equipment adequately insured against loss or damage by fire or other accidental cause and shall have the right to pledge the rentals therefrom, as security for the repayment of an amount which such nonprofit corporation shall borrow for the construction and equipment of such buildings, but no such pledge shall in any manner incur any indebtedness or liability against the state board of regents, the institution at which such building or buildings are constructed, or against the state of Kansas, nor create any lien against said building or buildings or the real estate on which the same may be built: Provided, however, That no indebtedness created hereunder shall exceed the sum of six hundred thousand dollars for any building erected as herein provided: And provided further, That no such indebtedness shall be outstanding for more than two such buildings at any one institution.
History: L. 1941, ch. 364, § 7; L. 1947, ch. 434, § 3; June 30.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.