40-306. Officers and agents; signatures to contracts. (a) Every insurance company having capital stock, now existing or hereafter organized under the laws of this state, shall have such officers with such titles and duties as shall be stated in the bylaws or in a resolution of the board of directors which is not inconsistent with the bylaws.
(b) Officers shall be chosen in such manner and shall hold their offices for such terms as are prescribed by the bylaws or determined by the board of directors or other governing body.
(c) The board of directors shall have power to appoint any agents necessary for transacting the business of the company, pay such salaries and require such bonds as they may deem reasonable; and it shall be their duty to keep full and correct entries of their transactions, which shall at all times be open to the inspection of the stockholders.
History: L. 1927, ch. 231, 40-306; L. 1973, ch. 192, § 1; L. 2004, ch. 128, § 4; L. 2005, ch. 41, § 2; July 1.
Structure Kansas Statutes
Article 3 - Organization, Merger Or Consolidation Of Stock Companies
40-301 Definition of insurance company.
40-302 Minimum capital; par value of stock.
40-303 Powers of board of directors.
40-305 Directors; numbers; election; oath.
40-306 Officers and agents; signatures to contracts.
40-307 Amendment of charter; increase or decrease of capital.
40-308 Transfer of stock; application of dividends on notes or obligations of stockholders.
40-309 Union, merger or consolidation; reinsurance.
40-310 Additional kinds of insurance authorized; surplus and deposit requirements.