Kan. Admin. Regs. § 131-1-1

Current through Register Vol. 43, No. 24, August 22, 2024

Section 131-1-1 - Definition of purchase

(a) "Purchase," as used in K.S.A. 75-4101 and amendments thereto, shall not include the purchase of insurance through a lease of real property that meets all of the following conditions:

(1) The state agency is the lessee.

(2)

(A) The cost to insure the property is included as a part of the lease payment; or

(B) the lessee is required to reimburse the lessor for the cost of the insurance.

(3) The secretary of administration has approved the lease in accordance with K.S.A. 75-3739, and amendments thereto.

(b) "Purchase," as used in K.S.A. 75-4101 and amendments thereto, shall include the purchase of insurance through a lease of real property if all of the following conditions are met:

(1) The state agency is the lessee.

(2) The lease requires that the property be insured.

(3) The lease requires the lessee to pay the insurance premium to the insurance company.

Kan. Admin. Regs. § 131-1-1

Authorized by K.S.A. 75-4111; implementing K.S.A. 2010 Supp. 75-4101 and K.S.A. 2010 Supp. 75-4109; effective March 18, 2011.