40-1107a. Same; title insurance company; exceptions. No title insurance company organized under the laws of this state, engaged exclusively in the business of insuring titles to real estate, shall expose itself to a loss on any one risk or hazard to an amount exceeding fifty percent (50%) of its paid-up capital and surplus, unless the excess shall be reinsured in some company duly authorized to transact similar business in this state or in any other state, provided such a company not authorized to do business in this state meets or exceeds the financial requirements as to capital and surplus of a title insurance company doing business in this state; and no title insurance company not organized under the laws of this state engaged exclusively in the business of insuring titles to real estate, transacting business in this state, shall expose itself to a loss on any one risk or hazard in this state to an amount exceeding fifty percent (50%) of its paid-up capital and surplus, unless the excess shall be reinsured either in some company duly authorized to transact similar business in this state or in any other state, provided such a company not authorized to do business in this state meets or exceeds the financial requirements as to capital and surplus of a title insurance company doing business in this state. Any title insurance company organized under the laws of this state may take credit as an asset or as a deduction from loss and unearned premium reserves on such ceded risks to the extent reinsured.
History: L. 1971, ch. 168, ยง 2; July 1.
Structure Kansas Statutes
Article 11 - General Provisions Relative To Casualty, Surety And Fidelity Companies
40-1101 Insurance company defined.
40-1103 Paid-up capital stock and surplus required; deposits of securities; amount.
40-1104 Regulation of foreign companies; capital stock and surplus required.
40-1105 Revocation of certificate of authority, when.
40-1107 Maximum amount of one risk or hazard; exceptions.
40-1107a Same; title insurance company; exceptions.
40-1108 Reserves of surety company.
40-1110 Supplemental coverages or endorsements in connection with liability policies.
40-1112a Discount for motor vehicle insurance, when; conditions.
40-1119 Same; false or misleading information; penalty.
40-1126 Reports by insurers of health care providers of any actions to state board of healing arts.
40-1127 Same; content of reports.
40-1134 Title insurance companies; policy requirements.
40-1135 Title insurance agencies; purpose.
40-1137 Same; agents, authorized activities; use of client funds; escrow accounts, audit.
40-1138 Same; agent record requirements; inspection.
40-1139 Same; financial responsibility requirements.