40-1218. Same; procedure. Such merger or consolidation shall be made under the conditions, provisions, and restrictions, and with the powers herein set forth to wit: The directors of each company shall enter into a joint agreement, under the corporate seal of each company, for the merger or consolidation of said companies, prescribing the terms and conditions thereof, the mode of carrying the same into effect, the name of the surviving or new company, the number and names of the directors and other officers thereof, and who shall be the first directors and officers, and their places of residence, and how and when directors and officers shall be chosen, with such other details as required by this act and as they shall deem necessary to perfect the said merger or consolidation. Said agreement shall not be effective unless the same shall be approved by the policyholders of said companies and the commissioner of insurance in the manner hereinafter provided.
History: L. 1957, ch. 289, § 3; L. 1972, ch. 53, § 6; July 1.
Structure Kansas Statutes
Article 12 - Mutual Insurance Companies Other Than Life
40-1201 Authority for formation; directors and officers; elections.
40-1202 Articles of incorporation; name.
40-1203 Kinds of insurance authorized.
40-1204 Certification of authority; conditions for issuance.
40-1205 Corporate membership; personal liability.
40-1206 Number of votes of members.
40-1210 Foreign mutual insurance companies; paid-up capital and surplus requirements.
40-1211 Premium tax; in lieu of certain other taxes.
40-1213 Certain existing companies or associations.
40-1215 Charter and other papers to be filed; approval; authorization.
40-1216 Merger or consolidation of certain mutual companies other than life.
40-1219 Same; vote of policyholders on agreement; meetings of policyholders, notice; required votes.
40-1221 Same; approval by commissioner.
40-1224 Same; fees of officers or directors, prohibited unless disclosed; penalty.
40-1225 Same; construction of act; invalidity of part.
40-1226 Additional kinds of insurance authorized; surplus and deposit requirements.