40-1613. Authority to write fidelity and surety bonds; conditions. Under authority given by the commissioner, a reciprocal may engage in the business of writing fidelity and surety bonds but only upon the condition that such reciprocal shall have and maintain an amount of surplus equal to the total of capital and surplus required of domestic stock insurance companies transacting the same kind of business and any such reciprocal shall be deemed a stock insurance company for the purposes of K.S.A. 40-214, 40-239 to 40-247, inclusive, 40-252, 40-1107 and 40-1108 of the Kansas Statutes Annotated, and amendments thereto. No fidelity or surety bond shall be issued by any such reciprocal until the form of such bond shall have been submitted to and accepted by the commissioner. Any fidelity or surety bonds executed pursuant to this act shall be received and accepted as company, corporation or corporate bonds.
History: L. 1943, ch. 183, § 1; L. 2000, ch. 170, § 28; 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.