40-2904. Same; creation of nonprofit association, membership; functions. There is created a nonprofit unincorporated legal entity to be known as the Kansas insurance guaranty association. All insurers defined as member insurers in K.S.A. 40-2903(e) shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under K.S.A. 40-2907 and shall exercise its powers through a board of directors established under K.S.A. 40-2905.
History: L. 1970, ch. 185, ยง 4; March 27.
Structure Kansas Statutes
Article 29 - Kansas Insurance Guaranty Association Act
40-2901 Purpose and construction.
40-2904 Same; creation of nonprofit association, membership; functions.
40-2905 Board of directors; selection; vacancies; expenses.
40-2906 Insolvency of insurer; duties of association; powers; certificate of contribution.
40-2906a Certificate of contribution as asset of insurer; offset against premium tax liability.
40-2908 Same; powers and duties of commissioner.
40-2910 Same; claims; exhaustion of rights under policy; recovery reductions.
40-2911 Same; detection and prevention of insurer insolvencies; reports and recommendations.
40-2912 Same; association subject to examination and regulation by commissioner; financial report.
40-2914 Same; rates and premiums of policies to include amounts of assessments to association.
40-2915 Same; liability of parties for actions.