48-3803.
657 words·~3 min read·
/ks/chapter-48/48-3803A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
48-3803. Acquisition of any interest in certain real property by a foreign principal prohibited, exception; registration with attorney general required, notice, warning; divestiture, when required; acquisition of interest by devise or bequest.
(a)Except as provided in subsections
(b)and (f), on and after July 1, 2025, no foreign principal shall directly or indirectly acquire any interest in any real property located within 100 miles of the boundary of any military installation located in this state or any adjacent state, except a de minimis interest in such real property.
(b)A foreign principal that owns real property described in subsection
(a)prior to July 1, 2025, and seeks to acquire additional real property described in subsection
(a)for the purpose of expansion of operations shall request approval for such acquisition from the governor. The governor shall consult with the attorney general and the fusion center oversight board to determine whether there is any security risk to military installations or critical infrastructure due to the expansion. The governor shall issue approval or denial of such expansion within 90 days of receiving the request.
(c)Any foreign principal that owns any interest in real property as described in subsection
(a)or directly or indirectly acquires any interest in real property as described in subsection
(a)shall file registration of such interest with the attorney general in such form and manner as prescribed by the attorney general not later than 90 days after the effective date of this act or the date such interest is acquired, whichever occurs later. Such filing shall include:
(1)The name of the individual or entity holding such interest;
(2)the date of acquisition;
(3)the address and legal description of the real property; and
(4)the number of acres comprising the real property.
(d)The secretary of state shall provide notice of the registration requirement for foreign principals of subsection
(c)to all business entities and nonprofit organizations at the time of each of such business entity's or nonprofit organization's registration with the secretary of state or of any other filing with the secretary of state. The attorney general shall provide the secretary of state with instructions for fulfilling the requirements of subsection (c), and the secretary of state shall provide such instructions with such notice to business entities and nonprofit organizations.
(A)Except as provided by paragraph (B), if applicable, any foreign principal that fails to file the registration as required under subsection
(c)or directly or indirectly acquires any interest in real property as described in subsection
(a)shall divest such interest in such real property.
(B)Any foreign principal that owns any interest in real property as described in subsection
(a)on July 1, 2025, and fails to file the registration as required under subsection
(c)with respect to such interest in real property shall receive a warning from the attorney general advising the foreign principal of such registration requirement and instructing the foreign principal as to the manner of fulfilling such requirement. The foreign principal shall be allowed a period of 30 days from the date of receipt of such warning and instructions to file such registration as required under subsection
(c)without a requirement of divestiture of such interest in real property. If such foreign principal fails to file such registration within such 30-day period, such foreign principal shall divest such interest in such real property. The provisions of this subparagraph shall expire on June 30, 2028.
(2)A copy of all documentation evidencing such divestiture shall be submitted to the attorney general in such manner as prescribed by the attorney general not later than 30 days after the effective date of such divestiture.
(f)A foreign principal may acquire an interest in real property by devise or bequest, through the enforcement of any security interest or through the collection of a debt. Any such acquisition shall be subject to the provisions of subsections
(c)and (e).