40-2a14. Collateral loans. Any insurance company other than life heretofore or hereafter organized under any law of this state may invest with the direction or approval of a majority of its board of directors or authorized committee thereof, any of its funds, or any part thereof in loans secured by collateral consisting of a pledge of bonds, securities, stock or evidences of indebtedness qualified in article 2a of chapter 40 of the Kansas Statutes Annotated, and amendments thereto. Except the amount of the loan shall not exceed 80% of the market value of the asset securing the loan. In addition, all restrictions, limitations or conditions placed on any investment authorized within article 2a of chapter 40 of the Kansas Statutes Annotated, and amendments thereto, shall apply to the collateral pledged to the payment of loans authorized in this section.
History: L. 1972, ch. 173, § 14; L. 2014, ch. 43, § 2; July 1.
Structure Kansas Statutes
Article 2a - Investments By Other Than Life Insurance Companies
40-2a01 United States government obligations; call options.
40-2a02 State, District of Columbia, territorial and municipal obligations.
40-2a03 Canadian government, provincial and municipal obligations.
40-2a04 Foreign government obligations.
40-2a05 Business entity obligations; definitions.
40-2a06 Equipment trust obligations or conditional sales contract.
40-2a07 Preferred and guaranteed stocks; definitions.
40-2a08 Equity interests; call options.
40-2a10 Bank certificates of deposit.
40-2a11 Savings and loan shares or deposits.
40-2a12 Real estate bonds and mortgages.
40-2a18 Real estate investment trusts.
40-2a19 Prior lawful investments.
40-2a20 Adoption of nominee name; designation of bank as trustee.
40-2a22 Investment companies; money market mutual funds.
40-2a24 Financial futures contracts; definitions; use for hedging purposes; definitions.
40-2a25 Mortgage related securities.
40-2a26 Medium and lower grade obligations; definitions.
40-2a27 Same; limitations; exceptions; insurance company required to adopt written investment plan.
40-2a28 Investment in asset-backed securities; conditions; definitions.