40-1604. Statements filed by attorney-in-fact with commissioner; amount of indemnity. There shall be filed with the commissioner of insurance a statement under oath by the attorney-in-fact giving the maximum amount of indemnity upon any single risk, and such attorney-in-fact, whenever and as often as such attorney-in-fact shall be required, shall file with the commissioner of insurance a statement verified by such attorney-in-fact's oath, to the effect that the reciprocal has not assumed on any one risk an amount greater than 10% of its surplus, unless the excess shall be reinsured (1) in some other insurance company duly authorized to transact similar business in this state or as otherwise provided in the insurance code; or (2) as provided by the laws of the state in which the principal office of the reciprocal is located.
History: L. 1927, ch. 231, 40-1604; L. 1967, ch. 268, § 3; L. 2000, ch. 170, § 20; July 1.
Structure Kansas Statutes
Article 16 - Reciprocal Or Interinsurance Contracts
40-1601 Exchange contracts authorized.
40-1602 Execution of contracts by attorney-in-fact.
40-1603 Domestic reciprocal; attorney-in-fact; declarations.
40-1604 Statements filed by attorney-in-fact with commissioner; amount of indemnity.
40-1605 Maintenance of unearned premiums and reserves; surplus funds; conditions.
40-1606 Advancements to company; conditions.
40-1607 Service of process upon commissioner; fee; suits by and against subscribers.
40-1608 Bond of attorney and employees.
40-1609 Power of corporation to exchange contracts.
40-1610 Certificate of authority; revocation or suspension.
40-1611 Levies and taxes on premiums; payment; deductions.
40-1612 Certain provisions of code to reciprocals.
40-1613 Authority to write fidelity and surety bonds; conditions.
40-1616 Same; approval; assumption of policies and business by surviving entity.
40-1617 Same; merger agreement; approval; submission to insurance commissioner.
40-1619 Same; construction of act; exemption from certain provisions of law.
40-1621 Same; hearing on conversion plan.
40-1622 Same; act supplemental to article 16.
40-1624 Reciprocal; business name.
40-1625 Reciprocal; board of directors; requirements on; powers and duties.
40-1626 Subscriber's agreement; requirements.
40-1627 Modification of power of attorney; filing requirements.
40-1628 Reciprocal; return of savings to subscriber accounts.
40-1629 Domestic reciprocal; liquidation; requirements on.
40-1630 Reciprocal; assessable insurance policies, prohibition against issuance.