Chapter 40 — INSURANCE

40-2510. History: L. 1967, ch. 270, § 10; Repealed, L. 2021, ch. 108, § 21; July 1. Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LCC Documents Archived LCC Meetings REVISOR OF STATUTES Archived Session Documents Archived School Finance Documents…

40-2511. History: L. 1967, ch. 270, § 11; Repealed, L. 2021, ch. 108, § 21; July 1. Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LCC Documents Archived LCC Meetings REVISOR OF STATUTES Archived Session Documents Archived School Finance Documents…

40-2512. History: L. 1967, ch. 270, § 12; Repealed, L. 2021, ch. 108, § 21; July 1. Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LCC Documents Archived LCC Meetings REVISOR OF STATUTES Archived Session Documents Archived School Finance Documents…

40-2513. History: L. 1967, ch. 270, § 13; Repealed, L. 2021, ch. 108, § 21; July 1. Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LCC Documents Archived LCC Meetings REVISOR OF STATUTES Archived Session Documents Archived School Finance Documents…

40-2601. Citation of act. This act may be cited as the "Kansas insurance premium finance company act." History: L. 1968, ch. 287, § 1; July 1. Law Review and Bar Journal References: Act cited as being outside scope of UCCC in "The New Kansas Consumer Legislation," Barkley Clark, …

40-2602. Definitions. For the purpose of this act: (a) "Insurance premium finance company" means a person engaged in the business of entering into insurance premium finance agreements under this act. (b) "Premium finance agreement" means an agreement by which an insured or prospe…

40-2603. Act inapplicable, when. The provisions of this act shall not apply with respect to: (a) Any insurance company authorized to do business in the state of Kansas, or any agent or agency of an insurance company financing premiums on policies written by such agent or agency, …

40-2604. Licensure; violation, criminal penalty; continuation of license; application; authority of commissioner to set and publish fees. (a) No person shall engage in the business of financing insurance premiums under this act in this state without first having obtained a licens…

40-2605. Investigation by commissioner; issuance of license. Upon the filing of an application and the payment of the license fee the commissioner shall make an investigation of each applicant and shall issue a license if he finds that the person to be licensed: (a) Is competent …

40-2606. Revocation or suspension of license, grounds; hearing; other penalties. The commissioner shall have the right to revoke or suspend the license of any premium finance company if the commissioner finds that: (a) Any license issued to such company was obtained by fraud; (b)…

40-2607. Records required to be maintained; examination; fees and expenses; duration. Every licensee shall maintain records of its premium finance transactions and the said records shall be open to examination and investigation by the commissioner: Provided, however, That said li…

40-2608. Rules and regulations. The commissioner may adopt rules and regulations to implement this act. History: L. 1968, ch. 287, § 8; July 1. Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LCC Documents Archived LCC Meetings REVISOR OF STATUTES …

40-2609. Premium finance agreement. No premium finance agreement shall be issued or delivered in this state until the form of the same has been filed with the commissioner of insurance, nor if the commissioner of insurance gives written notice within thirty (30) days of such fili…

40-2610. Service charges; computation; maximum; refund on prepayment. A premium finance company shall not charge, contract for, receive, or collect a service charge other than as permitted by this act. The service charge shall be computed on the balance of the premiums due (after…

40-2611. Delinquency charge. A premium finance agreement may provide for the payment by the insured of a delinquency charge of $5 plus an amount not to exceed 2% of the delinquent installment on any installment which is in default for a period of five days or more. History: L. 19…

40-2612. Cancellation of insurance contracts, when; notice; duty of insurer; refund. (a) When a premium finance agreement contains a power of attorney enabling the premium finance company to cancel any insurance contract or contracts listed in the agreement, the insurance contrac…

40-2613. Agreement as secured transaction. No filing of the premium finance agreement shall be necessary to perfect the validity of such agreement as a secured transaction as against creditors, subsequent purchasers, pledgees, encumbrances, successors or assigns. History: L. 1968…

40-2701. Purpose of act; legislative declaration. The purpose of this act is to subject certain insurers to the jurisdiction of the commissioner of insurance and the courts of this state in suits by or on behalf of the state. The legislature hereby declares that it is concerned w…

40-2702. Insurer defined; venue; certificate of authority required; authority of commissioner to set and publish annual registration fee. (a) As used in this act, unless the context otherwise requires, the term "insurer" means and includes all corporations, companies, association…

40-2703. Violation of act; action to enjoin or restrain acts; jurisdiction. Whenever the commissioner of insurance believes, from evidence satisfactory to him, that any insurer is violating or about to violate the provisions of K.S.A. 40-2702, the commissioner of insurance may, t…

40-2704. Secretary of state as process agent for unauthorized insurer; procedure; notice; service of process in other manner. (a) Any act of transacting an insurance business, as set forth in K.S.A. 40-2701, by any unauthorized insurer is equivalent to and shall constitute an irr…

40-2705. Deposit of bond or procurement of certificate by unauthorized insurer before pleading in action; continuance; setting aside service. (a) Before any unauthorized insurer files or causes to be filed any pleading in any court action, suit or proceeding, or any notice, order…

40-2706. Definitions; enforcement of order or decision; reciprocal states; foreign decree. (a) As used in this section: (1) "Reciprocal state" means any state or territory of the United States the laws of which contain procedures substantially similar to those specified in this s…

40-2707. Penalties. Any unauthorized insurer who transacts any unauthorized act of insurance business as set forth in this act may, upon conviction thereof, be fined not more than ten thousand dollars ($10,000). History: L. 1969, ch. 240, § 7; April 19. Previous | Next LEGISLATIV…

40-2708. Title of act. This act shall be known and may be cited as the uniform unauthorized insurers act. History: L. 1969, ch. 240, § 8; April 19. Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LCC Documents Archived LCC Meetings REVISOR OF STATU…

40-2709. Invalidity of part. If any provision of this act or the application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or applications of the act which can be given effect without the invalid provision, and to this e…

40-2801. Taxation of insurance companies; rate. Every life, fire and casualty, hail and county mutual fire insurance company organized under the laws of this state, shall annually pay to the state for the privilege of doing business within this state, a tax according to or measur…

40-2802. Same; tax in lieu of ad valorem levies. The tax levied under the provisions of this act shall be in lieu of ad valorem taxes which might otherwise be imposed by the state or political subdivisions thereof upon shares of capital stock and other intangible assets owned by …

40-2803. Same; net income defined for computing tax on life insurance companies. For the purpose of computing the tax imposed upon life insurance companies under the provisions of this act the term "net income" shall mean the net taxable income for the preceding calendar year of …

40-2804. Same; net income for purpose of computing tax on other companies. For the purpose of computing the tax imposed under the provisions of this act the term "net income" as applied to a domestic fire and casualty insurance company shall mean the amount required to be reporte…

40-2805. Same; returns and payment of tax; interest for late return. (a) Every insurance company subject to taxation under the provisions of this act shall pay the tax imposed and make a return thereof under oath to the commissioner of insurance under such rules and regulations a…

40-2806. Same; failure to file return or pay tax; interest and penalties; waiver or reduction. (a) If any company, without intent to evade the tax imposed by this act, shall fail to file a return or pay the tax, if one is due, at the time required by or under the provisions of th…

40-2807. Same; preservation of reports and returns; disclosure of contents unlawful, when; acceptance of employment by commissioner or employees; publication of statistics; inspection of returns by state officials; inspection of returns by federal or other state agencies. (a) All…

40-2808. Same; rules and regulations. The commissioner of insurance is hereby charged with the administration of this act and is hereby authorized to adopt such rules and regulations as may be necessary to properly administer and enforce the provisions thereof. History: L. 1970, …

40-2809. Same; disposition of revenue. The commissioner of insurance shall remit all tax moneys collected under the provisions of this act to the state treasurer in accordance with the provisions of K.S.A. 75-4215, and amendments thereto. Upon receipt of each such remittance, the…

40-2810. Same; political subdivisions prohibited from imposing tax. No political subdivision of this state shall levy or impose any license, privilege, premium or gross receipts tax or fee or any occupation tax based upon income, premiums or gross receipts upon any insurance comp…

40-2811. Same; exemption of certain companies, lodges, societies and associations. Nothing contained in this act shall apply to any of the organizations specified in K.S.A. 40-202. History: L. 1970, ch. 184, § 11; January 1, 1971. Previous | Next LEGISLATIVE COORDINATING COUNCIL …

40-2812. Application of K.S.A. 40-2803 and 40-2804. The provisions of this act shall be applicable to all taxable years commencing after December 31, 1972. History: L. 1973, ch. 197, § 3; April 19. Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LC…

40-2813. Credit against tax for making certain property accessible to persons with a disability; amount; carryover. For all taxable years commencing after December 31, 1997, any taxpayer who makes expenditures for the purpose of making all or any portion of an existing building o…

40-2901. Purpose and construction. The purpose of this act is to provide a mechanism for the payment of covered claims under certain insurance policies, to avoid excessive delay in payment and to avoid financial loss to claimants or policyholders because of the insolvency of an i…

40-2902. Same; application. This act shall apply to the kinds of direct insurance specified in K.S.A. 40-901 and 40-1102 except for the kinds of insurance specified in subsections (a), (e), (f), (g), (h) and (i) of K.S.A. 40-1102: Provided, That this act shall apply to accident a…

40-2903. Definitions. As used in this act: (a) "Association" means the Kansas insurance guaranty association created by this act. (b) "Commissioner" means the commissioner of insurance of Kansas. (c) "Covered claim" includes the following: (1) An unpaid claim, including one for u…

40-2904. Same; creation of nonprofit association, membership; functions. There is created a nonprofit unincorporated legal entity to be known as the Kansas insurance guaranty association. All insurers defined as member insurers in K.S.A. 40-2903(e) shall be and remain members of …

40-2905. Board of directors; membership; selection; vacancies; expenses; removal. (a) (1) The board of directors of the association shall consist of nine persons, of which three members shall serve terms of one year; (2) three members shall serve terms of two years; and (3) three…

40-2906. Insolvency of insurer; duties of association; powers; certificate of contribution. (a) In the event of the determination of insolvency and order of liquidation of a licensed insurer after the effective date of this act, the association shall: (1) Be obligated to the exte…

40-2906a. Certificate of contribution as asset of insurer; offset against premium tax liability. (a) Unless a longer period has been allowed by the commissioner, a member insurer shall at its option have the right to show a certificate of contribution as an asset in the form appr…

40-2907. Same; plan of operation; rules and regulations of commissioner; compliance with plan; provisions of plan. (a) (1) The association shall submit to the commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable and equi…

40-2908. Same; powers and duties of commissioner. (a) The commissioner shall: (1) Notify the association of the existence of an insolvent insurer not later than three regular business days after the commissioner receives notice of the determination of the insolvency. (2) Upon req…

40-2909. Same; assignment of rights to association upon recovery under act; cooperation; actions against insurer; claims against insolvent insurer. (a) Any person recovering under this act shall be deemed to have assigned his rights under the policy to the association to the exte…

40-2910. Certificate of contribution as asset of insurer; claims; exhaustion of rights under policy; recovery reductions. (a) Any person having a claim against an insurer under any provision in an insurance policy other than a policy of an insolvent insurer that is also a covered…