Powers of board of directors

40-303. Powers of board of directors. The board of directors of any insurance company organized under this article shall have power to adopt a seal, and make such bylaws and amendments thereto, not inconsistent with the constitution and laws of this state, as may be deemed necessary for the regulation and management of its affairs. History: L. 1927, ch. 231, 40-303; June 1. Source or prior law: L. 1871, ch. 93, §§ 33, 55; R.S. 1923, 40-210, 40-308. CASE ANNOTATIONS 1. Applied; board of directors of insurer organized prior to new corporation code authorized to provide for changes in election of directors. Lincoln American Corp. v. Victory Life Insurance Co., 375 F. Supp. 105, 107. 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