Suits for collection of assessments; liability of officers and directors; suits against company for losses

40-1010. Suits for collection of assessments; liability of officers and directors; suits against company for losses. Suits for the collection of any assessment made upon the deposit note of the insured may be brought in a court of competent jurisdiction in the county in which the insured resides; and the officers and directors of any company so formed who shall willfully refuse or neglect to perform the duties imposed upon them by the provisions of this article shall be liable in their individual capacity to the person sustaining such loss. Suits at law may be brought and maintained against any such company by the members thereof for losses sustained, if payment is withheld after such losses have become due. History: L. 1927, ch. 231, 40-1010; L. 1973, ch. 134, § 40; July 1, 1974. Source or prior law: L. 1875, ch. 111, § 6; L. 1885, ch. 132, § 12; R.S. 1923, 40-433. CASE ANNOTATIONS 1. Statute permissive as to supplemental coverage and policy not in conflict; medical exclusion unambiguous and enforceable. Simpson v. KFB Insurance Co., Inc., 209 Kan. 620, 626, 627, 498 P.2d 71. 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