Chapter 40 — INSURANCE

40-205d. Appeal of commission's decision. Any person aggrieved by the commission's decision shall have the right to appeal the decision in accordance with the provisions of the Kansas judicial review act. History: L. 1931, ch. 208, § 4; L. 1984, ch. 313, § 72; L. 2010, ch. 17, § …

40-205e. Penalty. The punishment for failure of a person to have a license as required by this act shall be a fine of not to exceed $500, or imprisonment in the county jail not to exceed six months, or both. History: L. 1931, ch. 208, § 5; March 16. Previous | Next LEGISLATIVE CO…

40-206. History: L. 1927, ch. 231, 40-206; Repealed, L. 1965, ch. 295, § 3; June 30. Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LCC Documents Archived LCC Meetings REVISOR OF STATUTES Archived Session Documents Archived School Finance Document…

40-207. Secretary and certain officers to give bond. The board of directors or other managing body of every insurance company organized under the laws of this state shall require the secretary, and all other officers having the care and handling of the funds and securities of the…

40-208. Examination by commissioner before issuance of certificate. Every insurance company organized under the laws of this state having fulfilled the conditions precedent required by this code shall notify the commissioner of insurance who shall, prior to issuing any certificat…

40-209. Foreign companies; requirements to transact business, waiver thereof; certificate of authority; application of corporation code and other laws. (a) Any insurance company organized under the laws of any other country, state or territory, upon application, may be authorized…

40-209a. History: L. 1931, ch. 210, § 1; L. 1970, ch. 174, § 1; Repealed, L. 1994, ch. 102, § 1; July 1. CASE ANNOTATIONS 1. Company had to meet requirements hereof on admission and thereafter; commissioner had no discretion to waive requirements under K.S.A. 40-209. Bankers Serv…

40-209b. Same; act supplemental. That this act is supplemental to and in no wise derogatory of or amending or repealing any existing statutes prescribing the powers and duties of the state insurance department. History: L. 1931, ch. 210, § 2; May 28. Previous | Next LEGISLATIVE C…

40-210. Foreign companies outside United States; permission to transact business; assets; condition. To determine whether any insurance company organized under the laws of any government or state, other than one of the United States, may be permitted to transact the business of i…

40-211. Amount of deposit of foreign company outside United States. No insurance company organized under the laws of any government or state other than one of the United States, shall be permitted to transact the business of insurance in this state unless the aggregate of such de…

40-212. Credit for reinsured risks. In considering the liabilities of any insurance company organized under the laws of any government or state other than one of the United States, it shall not be credited with risks reinsured, except for such risks as are reinsured in companies …

40-213. Unlawful transfer of premium notes. It shall be unlawful for any insurance company or any agent thereof who shall have accepted premium notes in payment for policies of insurance to sell or assign such note or notes prior to the delivery of the policy or policies to the i…

40-214. Conditions under which insurance may be written; certificate of authority; revocation, when; unlawful acts. It shall be unlawful for any person, company, corporation or fraternal benefit society to transact the business of insurance, indemnity or suretyship, or do any act…

40-215. Duration of licenses and certificates. All certificates and licenses granted under this code shall continue in force until suspended, revoked, or otherwise terminated by the commissioner of insurance. History: L. 1927, ch. 231, 40-215; L. 1978, ch. 167, § 1; July 1. Sourc…

40-216. Business prohibited until certain filings made; contracts effective on filing; filing of contracts on behalf of insurer by rating organization or another insurer; contracts written in foreign language; suspension or modification of filing requirements by commissioner; hea…

40-217. Contents of policies of foreign company. The policies of any insurance company not organized under the laws of this state may, with the approval of the commissioner of insurance, contain any provision which the laws of the state, territory, district, or country under whic…

40-218. Actions and garnishment proceedings against insurance companies; process; venue; procedure; authorization of commissioner to set and publish fee. (a) Every insurance company, or fraternal benefit society, on applying for authority to transact business in this state, and a…

40-219. Failure of company to pay judgment. Whenever any insurance company shall become liable to pay any loss to any person in this state, and shall neglect or refuse for three months after final judgment to pay the same, there being no appeal pending, and no supersedeas bond fi…

40-220. Action against insurance company to be brought in this state; injunction. It shall be unlawful for any person who is a resident of this state to bring or maintain any action arising in this state, at law or in equity, against any insurance company organized under the laws…

40-221. History: L. 1927, ch. 231, 40-221; L. 1965, ch. 296, § 1; Repealed, L. 1967, ch. 249, § 2; July 1. Source or prior law: L. 1871, ch. 93, § 66; L. 1885, ch. 132, § 31; L. 1903, ch. 330, § 3; R.S. 1923, 40-318, 40-451. CASE ANNOTATIONS 1. Cited in denying stockholder's righ…

40-221a. Reinsurance of risks of and by Kansas companies; procedure; requirements. (a) Credit for reinsurance shall be allowed a domestic ceding insurer as either an asset or a reduction from liability on account of reinsurance ceded only when the reinsurer meets the requirements…

40-221b. Reinsurance of risks of and by Kansas companies; procedure; requirements; definitions. (a) Purpose. The actions and information required by this section are declared to be necessary and appropriate in the public interest and for the protection of the ceding insurers in t…

40-222. Examination of condition of company, when; report, disclosure; suspension or revocation of certificate; notice and hearing. (a) Whenever the commissioner of insurance deems it necessary but at least once every five years, the commissioner may make, or direct to be made, a…

40-222a. Examination of corporations organizing domestic insurance companies. The commissioner may, whenever he deems it necessary, examine the affairs of any corporation organized under any law of this state, or having an office in this state, which corporation is engaged in, or…

40-222b. Insurance company in hazardous financial condition; order of commissioner, notice and hearing; requirements which may be imposed; transfer of special deposit to guaranty fund, when. (a) Whenever the financial condition of any insurance company, hereinafter referred to as…

40-222c. Same; insurance company defined. As used in this act: The term "insurance company" shall mean and include all corporations, companies, associations, societies, fraternal benefit societies, reciprocal exchanges, persons or partnerships writing contracts of insurance, inde…

40-222d. Same; company deemed to be in hazardous financial condition, when. For the purposes of this act a company may be deemed to be in a hazardous financial condition when the commissioner has determined, after notice and hearing as provided in K.S.A. 40-222b, that the loss ex…

40-222e. Same; suspension, revocation or refusal to renew certificate. Whenever any insurance company subject to the provisions of this act fails to comply with any requirement imposed pursuant to this act, the commissioner may suspend or revoke such company's certificate of auth…

40-222f. Examination of condition of company; definitions. As used in this act*: (a) "Commissioner" means the commissioner of insurance of this state; (b) "company" means any person engaging in or proposing or attempting to engage in any transaction or kind of insurance or surety…

40-223. Fees for examinations; compensation and expenses for examiners. (a) (1) Except as provided in K.S.A. 40-110 and 40-253, and amendments thereto, any person who makes any examination under the provisions of this act may receive, as full compensation for such person's servic…

40-223a. Insurance company annual statement examination fund established; purpose. A fund, designated "insurance company annual statement examination fund" in an amount not to exceed twenty-eight thousand dollars ($28,000) shall be set apart and maintained for the commissioner of…

40-223b. Same; compensation and expenses of examiners. Any person or persons who shall conduct a securities audit or annual statement examinations under the provisions of this act shall be regularly employed examiners and shall receive as full compensation for their services the …

40-223c. Same; duties of commissioner; warrants of director of accounts and reports. At such monthly intervals as he deems necessary and subject to the limitations applicable to this act, the commissioner shall certify the amount of compensation and expense reimbursement due on a…

40-223d. Same; insufficiency of fund; transfer from general fund, limitation; files. In the event such fund as established by this act is, at any time, insufficient to provide the amount necessary to compensate and reimburse the examiners as provided herein, the commissioner shal…

40-223e. Training insurance company examiners; establishment of revolving fund for financing training. A revolving fund, designated as the "insurance company examiner training fund" in an amount not to exceed forty thousand dollars ($40,000) shall be set apart and maintained for …

40-223f. Same; compensation and expenses of persons receiving training. Any person or persons who shall receive training or payment for salaries or expenses under the provisions of this act shall be regularly employed examiners and shall receive as full compensation while in trai…

40-223g. Same; payments from revolving fund. At such monthly intervals as he deems necessary and subject to the limitations applicable to this act, the commissioner shall certify the amount of enrollment fees, compensation and expense reimbursement due on a voucher to the directo…

40-223h. Property and casualty actuarial opinion letter law; citation of act. K.S.A. 40-223h through 40-223j, and amendments thereto, shall be known and may be cited as the property and casualty actuarial opinion letter law. History: L. 2008, ch. 63, § 1; July 1. Previous | Next …

40-223i. Same; actuarial opinion, contents; procedure. (a) Unless otherwise exempted by the commissioner, every property and casualty insurance company doing business in this state shall annually submit to the commissioner the opinion of an appointed actuary entitled "Statement o…

40-223j. Same; authority of commissioner; rules and regulations. (a) The statement of actuarial opinion shall be provided with the annual statement in accordance with the appropriate NAIC property and casualty annual statement instructions and shall be treated as a public documen…

40-224. When disbursements to be made only on voucher or affidavit. No insurance company organized under the laws of this state shall make any disbursement of one hundred dollars or more unless the same be evidenced by a voucher signed by or on behalf of the person, firm, or corp…

40-225. Company participation in insurance regulatory information system; annual statements of condition to be filed with commissioner; authority of commission to require annual audit and financial report; forms; inquiries of commissioner. Every insurance company or fraternal ben…

40-226. History: L. 1927, ch. 231, 40-226; Repealed, L. 1997, ch. 24, § 7; July 1. Source or prior law: L. 1871, ch. 93, § 40; R.S. 1923, 40-218. CASE ANNOTATIONS 1. Discussed in determining extent of tax liability on annuity contracts under K.S.A. 40-252. Equitable Life Assuranc…

40-227. History: L. 1927, ch. 231, 40-227; L. 1935, ch. 195, § 1; L. 1937, ch. 249, § 1; L. 1953, ch. 226, § 1; L. 1957, ch. 275, § 1; L. 1963, ch. 260, § 1; L. 1969, ch. 231, § 1; L. 1971, ch. 158, § 1; Repealed, L. 1972, ch. 173, § 20; July 1. Source or prior law: L. 1871, ch. …

40-227a. History: L. 1935, ch. 195, § 2; Repealed, L. 1969, ch. 231, § 2; April 15. Previous | Next LEGISLATIVE COORDINATING COUNCIL General Policies 2026 Archived LCC Documents Archived LCC Meetings REVISOR OF STATUTES Archived Session Documents Archived School Finance Documents…

40-228. History: L. 1927, ch. 231, 40-228; L. 1947, ch. 273, § 1; L. 1968, ch. 374, § 2; Repealed, L. 1969, ch. 231, § 2; April 15. Source or prior law: L. 1871, ch. 93, §§ 38, 71; R.S. 1923, 40-216, 40-322. CASE ANNOTATIONS 1. Company may erect office building larger than immedi…

40-229. Valuation of securities. All bonds or other evidences of debt having a fixed term and rate held by any insurance company or fraternal benefit society authorized to do business in this state may, if amply secured and not in default as to principal or interest, be valued as…

40-229a. Security deposits; deposit with financial institution; custodian and arrangements acceptable to commissioner; release and exchange of assets; income; forms prescribed and provided by commissioner; facsimile, electronic or digital signatures not recognized; inspection of …

40-230. History: L. 1927, ch. 231, 40-230; L. 1957, ch. 278, § 2; L. 1979, ch. 135, § 3; L. 1983, ch. 49, § 79; Repealed, L. 1996, ch. 25, § 17; July 1. Source or prior law: L. 1871, ch. 93, § 16; L. 1885, ch. 131, § 11; L. 1919, ch. 212, § 1; L. 1919, ch. 213, § 1; R.S. 1923, 40…

40-230a. Deposit of securities purchased from sale of stock during organization period. The proceeds from the sale of stock during the period of organization of any insurance company now being or hereafter to be organized under the laws of this state shall be immediately invested…