40-2b08. Equipment trust obligations or conditional sales contracts. Any life insurance company heretofore or hereafter organized under any law of this state may invest by loans or otherwise, 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 bonds, certificates or other evidences of indebtedness secured by any transportation or other equipment used in the United States of America or Dominion of Canada, that provide a right to receive determined rental, purchase or other fixed obligatory payments adequate to retire the obligations and also provide for vesting of title to such equipment free from encumbrance in a corporate trustee, or for creation of a first lien on such equipment.
History: L. 1972, ch. 179, ยง 8; July 1.
Structure Kansas Statutes
Article 2b - Investments By Life Insurance Companies
40-2b01 United States government obligations; call options.
40-2b02 State, District of Columbia, territorial and municipal obligations.
40-2b03 Canadian government, provincial and municipal obligations.
40-2b04 Investments in foreign jurisdictions and currencies; definitions.
40-2b05 Business entity obligations; definitions.
40-2b06 Preferred and guaranteed stocks; definitions.
40-2b07 Equity interests; call options.
40-2b08 Equipment trust obligations or conditional sales contracts.
40-2b09 Real estate bonds, mortgages, tax lien certificates.
40-2b15 Savings and loan shares or deposits.
40-2b16 Bank certificates of deposit.
40-2b18 Real estate investment trusts.
40-2b19 Prior lawful investments.
40-2b24 Investment companies; money market mutual funds.
40-2b26 Mortgage related securities.
40-2b27 Medium and lower grade obligations; definitions.
40-2b28 Same; limitations; exceptions; insurance company required to adopt written investment plan.
40-2b29 Investment in asset-backed securities; conditions; definitions.