Kansas Administrative Code

(Authorized by K.S.A. 40-271; im- plementing K.S.A. 40-264 et seq.; effective Jan. 1, 1967; amended May 1, 1980; revoked May 1, 1981.)

Certain transactions subject to K.S.A. 40-264 of the code. The acquisition or disposition of each transferable option, put, call, spread or straddle shall be a sufficient change in the beneficial ownership of the security to which the privilege relates to require the filing of a …

Insurance premium finance companies; changes in officers; manage- ment. (a) Each premium finance company autho- rized in Kansas shall report to the commissioner of insurance each change in officers and directors, as listed on page one of the application form, and file for each a …

Same; rates; filing. Each premi- um finance company shall file with the commis- sioner of insurance a complete listing of all sched- uled interest rates and service charges which the company intends to use in Kansas. Such listing shall be revised and refiled as necessary to conti…

(Authorized by K.S.A. 40-2604, 40- 2608;effectiveJan.1,1969;revokedMay1,1979.)

Insurance premium finance companies; annual reports. (a) Each licensee shall file a report annually with the commissioner of insurance. The report shall contain information concerning the business and operations during the preceding calendar or fiscal year within the state. (b) T…

Same; printing of forms. The printing of the items required by K.S.A. 40-2609, paragraph C, must be in at least 10 point, pica style type and print at least as bold as any other printing on the premium finance agreement. The style of type required by this regulation shall be used…

Same; duplicate to borrower. A duplicate of each premium finance agreement shall be delivered to the borrower before the due date of the first installment. (Authorized by K.S.A. 40-103, 40-2608; implementing K.S.A. 40-2609; effective Jan. 1, 1969; amended May 1, 1986.)

Same; notice of assignment; payments. Unless the borrower has notice of ac- tual or intended assignment of a premium finance agreement, payment by the borrower to the last known holder of the agreement shall be binding upon all subsequent holders or assignees. (Autho- rized by K.…

Same; service charges. (a) A service charge on a premium finance agreement written at the inception of the applicable insur- ance policy may be computed from the effective date of the policy. A 30 day delay shall be allowed between the inception date of the insurance pol- icy and…

(Authorized by K.S.A. 40-103, 40- 2608;implementingK.S.A.40-2609;effectiveJan.1, 1969; amended May 1, 1986; revoked May 1, 1987.)

Same; disclosure of annual per- centage rate. (a) Each premium finance company shall include in its premium finance agreement a provisiontodisclosetheannualpercentageratepur- suant to Kansas administrative regulation 75-6-26. (b) The total service charges included for a pre- mium…

Variable annuity or separate ac- counts; definition. (a) The term “contract on a variablebasis”or“variablecontract,”whenusedin this regulation, shall mean each policy or contract which provides for variable insurance or annuity benefits according to the investment experience of a…

(Authorized by K.S.A. 40-103, 40- 436; effective Jan. 1, 1969; amended, E-71-24, July 1, 1971; amended Jan. 1, 1972; revoked May 1, 1979.)

(Authorized by K.S.A. 40-103, 40- 436; effective Jan. 1, 1969; amended Jan. 1, 1970; amended, E-71-24, July 1, 1971; amended Jan. 1, 1972; revoked May 1, 1979.)

(Authorized by K.S.A. 40-103, 40- 436; effective Jan. 1, 1969; revoked May 1, 1979.) Article 15a.—VARIABLE LIFE INSURANCE 40-15a-1. Variable life insurance; defini- tions; qualifications; requirements; reports. The national association of insurance commis- sioners’ variable life …

Same; qualification of insurance companies. (a) Before any company shall deliver or issue for delivery variable contracts within this state the company shall submit to the commis- sioner of insurance a general description of the kinds of variable contracts it intends to issue. (b…

Same; conditions. (a) A domestic company issuing variable contracts shall establish one or more separate accounts pursuant to K.S.A. 40-436. (b) The investments and liabilities of a sep- arate account shall be clearly identifiable and distinguishable from the other investments an…

Same; filing of contracts. The fil- ing requirements applicable to variable contracts shall be the filing requirements for individual and group life insurance contract form filings under K.S.A. 40-216, 40-420, 40-421 and 40-434. (Au- thorized by K.S.A. 40-103, 40-436; implementin…

Same; variable benefits require- ments. (a) The commissioner shall disapprove or withdraw approval of any contract form or certif- icate if: (1)thecontractorcertificatecontainsprovisions which are unjust, unfair, inequitable, ambiguous, misleading, likely to result in misrepresen…

Same; required reports. (a) Each company issuing an individual variable contract providing benefits in variable amounts shall mail to the contractholder at least once a year following the first contract year, at the last address known to the company, a statement or statements rep…

Same; agents; qualification. (a) Unless licensed as a variable contract agent, an agent shall not be eligible to sell or offer for sale a variable contract. (b) An agent who participates only in the sale or offering for sale of variable contracts that are not registered under the…

Variable annuity or separate accounts; agents; procedure for obtaining li- censes. (a) Each agent desiring to sell, pursuant to K.S.A. 40-436, individual or group contracts on behalf of a life insurance company regularly ad- mitted to do business in this state, shall apply for a …

(Authorized by K.S.A. 40-103, 40- 436; effective Jan. 1, 1969; amended Jan. 1, 1970; amended, E-71-24, July 1, 1971; amended Jan. 1, 1972; amended Jan. 1, 1973; revoked May 1, 1979.)

Professional employer organiza- tions; definition. For the purpose of this article, “act” shall mean professional employer organiza- tion registration act. (Authorized by K.S.A. 40- 103 and L. 2012, ch. 142, sec. 10; implementing L. 2012, ch. 142, sec. 1; effective Jan. 31, 2014.…

Professional employer organi- zations; fees. The following fees shall be paid to the department: (a) For each professional employer organiza- tion, the following fees: (1) For an initial application for registration, $1,000; (2) for a renewal application for registration, $500; a…

(Authorized by K.S.A. 40-103; effec- tive Jan. 1, 1966; amended May 1, 1975; revoked May 1, 1979.)

Same; deficiency reserves; re- quirements. Any life insurance company may establish deficiency reserves when gross premi- um charges are less than net premiums. Howev- er, the company shall give the department a com- plete description of the reserve establishment. (Authorized by …

Life insurance policies; “whole- sale” or “franchise” plan; requirements. (a) Definitions. (1) “Wholesale” or “franchise” insurance means a life insurance plan under which a number of in- dividual life insurance policies are issued at spe- cial rates to a group of five or more pe…

Replacement of life insurance and annuities. (a) Definitions. (1) “Agent” means each agent, broker, or other person representing an insurer in the sale of any type of policy. (2) “Company” or “insurer” means each compa- ny,society,associationorotherfinancialinstitution which issu…

Life insurance policies; prom- issory notes and installment contracts; col- lege students; requirements. In addition to the provisions of K.S.A. 40-283a, the following requirements shall apply to premium financing ar- rangements between an insuror or agent and the insured for the…

Life insurance and annuities; deceptive practices; requirements; prohibi- tions. (a) This regulation shall apply to each solic- itation, negotiation, or procurement of life insur- ance or annuities occurring within this state. This regulation shall apply to each authorized issuer…

Life insurance and annuities; recommendation standards. The Kansas insur- ance department’s “policy and procedure regard- ing suitability in annuity transactions,” dated No- vember 29, 2012, is hereby adopted by reference. This regulation shall be effective on and af- ter June 1,…

(Authorized by K.S.A. 40-103 and 40-2404a; implementing K.S.A. 40-2403 and K.S.A. 2002 Supp. 40-2404; effective May 20, 2005; revoked Dec. 2, 2005.)

Individual life insurance poli- cies; right to return policy. (a) Each individual life insurance policy and annuity contract issued for delivery in this state shall contain a notice. (b) The notice shall be printed on or attached to the first page of the policy. The notice shall …

Life insurance and annuities; mortality tables; sexual distinctions; permits and prohibitions. (a) For each policy of life in- surance delivered or issued for delivery in this state, the blended 1980 CSO and CET mortality tables A through G, adopted December 1983 and tables SA th…

Life insurance and annuities; mortality tables; smokers and nonsmokers; permits and prohibitions. The national asso- ciation of insurance commissioners’ model reg- ulation permitting smoker-nonsmoker mortality tables, December 1983 edition, is adopted by reference subject to the …

Annuities; mortality tables; per- mits; effective dates. The Kansas insurance de- partment’s “policy and procedure recognizing a new annuity mortality table for use in determining reserve liabilities for annuities,” dated January 29, 2016, including the appendices, is hereby adop…

Kansas life and health insur- ance guaranty association act; notice to pol- icyholders; requirements. (a) The disclaimer required by L. 1986, Ch. 180, Sec. 15(c) shall be printed in bold face type and included on the face page of the summary document required by L. 1986, Ch. 180,…

(Authorized by K.S.A. 40-103, 40- 216; effective Jan. 1, 1966; revoked Jan. 1, 1974.)

Life insurance; accelerated ben- efits; contract requirements and restrictions. (a) As used in this regulation or in a life insurance or annuity contract providing for accelerated ben- efits, each of the following terms shall have the meaning specified in this subsection: (1) “Ac…

(Authorized by K.S.A. 40-103; im- plementing K.S.A. 40-221a; effective Dec. 16, 1991; revoked June 20, 1997.)

(Authorized by K.S.A. 40-103, 40- 404(e)(4) as amended by L. 1987, Ch. 162, Sec. 1; implementing K.S.A. 40-404(e) as amended by L. 1987, Ch. 162, Sec. 1; effective, T-88-44, Oct. 27, 1987;amendedMay1,1988;revokedMay10,2002.)

Life insurance; preneed funer- al contracts or arrangements; disclosure; requirements. (a) This regulation shall apply to any solicitation, negotiation or procurement oc- curring within this state with respect to life insur- ance or annuity contracts used to fund a preneed funera…

Life and health reinsurance agreements. Sections 3, 4, 5, and 6 of the nation- al association of insurance commissioners’ “life and health reinsurance agreements model regu- lation,” adopted by the NAIC on September 20, 1992, are hereby adopted by reference, subject to the follow…

Life insurance illustrations. The national association of insurance commissioners’ “life insurance illustrations model regulation,” 302 INSURANCE DEPARTMENT 40-2-26 January 1996 edition, is hereby adopted by refer- ence, subject to the following alterations. (a) Section 3(E) shal…

Valuation of life insurance pol- icies. Section one, sections three through seven, and the appendix of the national association of insurance commissioners’ “valuation of life in- surance policies model regulation,” 2003 edition, are hereby adopted by reference, with the fol- lowi…

Minimum reserve liabilities and nonforfeiture benefits. Sections three through seven of the national association of insurance com- missioners’ “recognition of the 2001 CSO mortality table for use in determining reserve liabilities and nonforfeiture benefits model regulation,” Jan…

Preneed insurance contracts; minimum standards for determining re- serves. The Kansas insurance department’s “policy and procedure pertaining to preneed life insurance minimum standards for determining re- serve liabilities and nonforfeiture values,” except section 1, dated Novem…

Life insurance; valuation of credit life insurance policies. The Kansas in- surance department’s “policy and procedure re- garding determining reserve liabilities for credit life insurance,” dated August 23, 2007, including the appendix, is hereby adopted by reference. (Authorize…