No policy issued until required application, premium notes and securities received

40-1003. No policy issued until required application, premium notes and securities received. No company formed hereafter for the purpose of doing an insurance business under the provisions of this article shall have power to issue policies until applications in good faith have been received for insurance in one class to the amount of at least one hundred thousand dollars, and cash or deposit notes have been received in advance, for the same, nor until such company shall have assets in cash or securities other than deposit notes of at least twenty-five thousand dollars. History: L. 1927, ch. 231, 40-1003; L. 1943, ch. 186, § 1; June 28. Source or prior law: L. 1875, ch. 111, § 3; L. 1885, ch. 132, § 4; R.S. 1923, 40-425. CASE ANNOTATIONS 1. No policy issued except on written application. Kennedy v. Farmers Alliance Ins. Co., 127 Kan. 768, 770, 275 P. 214. 2. Application for membership and bylaws are integral parts of policy. Lallak v. Farmers' Mutual Ins. Co., 174 Kan. 720, 721, 722, 723, 257 P.2d 933. Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LCC Documents Archived LCC Meetings REVISOR OF STATUTES Archived Session Documents Archived School Finance Documents USEFUL LINKS Session Laws Kansas Administrative Regulations OTHER LEGISLATIVE SITES Kansas Legislature Administrative Services Division of Post Audit Research Department Contact Us PDF Help www.ksrevisor.gov 2026