Kansas Statutes
Article 36 - Impaired Or Insolvent Insurers
40-3621 Liquidation of insurer; petition by commissioner; grounds.

40-3621. Liquidation of insurer; petition by commissioner; grounds. The commissioner may petition the district court of Shawnee county for an order directing the commissioner to liquidate a domestic insurer on the basis:
(a) Of any grounds for an order of rehabilitation as specified in K.S.A. 40-3616, whether or not there has been a prior order directing the rehabilitation of the insurer;
(b) that the insurer is insolvent; or
(c) that the insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors or the public.
History: L. 1991, ch. 125, ยง 17; July 1.

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Structure Kansas Statutes

Kansas Statutes

Chapter 40 - Insurance

Article 36 - Impaired Or Insolvent Insurers

40-3602 Insolvent insurers; offset of unearned premiums by agent; contract provisions with agent, application.

40-3605 Citation of act.

40-3606 Application of act.

40-3607 Definitions.

40-3608 Delinquency proceedings; commencement and jurisdiction to determine; authority of court; actions to be brought in district court of Shawnee county.

40-3609 Same; relief granted by court upon application of receiver; limitation.

40-3610 Same; persons required to cooperate with commissioner; definitions; civil and criminal penalties and supervision or revocation of licenses for failure to cooperate or obstruction or interference with commissioner.

40-3611 Same; proceeding commenced prior to effective date of act.

40-3612 Same; restrictions upon insurers subject to delinquency proceedings.

40-3613 Same; supervision of insurer by commissioner, grounds for, determination and order of commissioner; appointment of supervisor; conditions imposed upon insurer; service of notice of hearings and orders; civil penalties for violation of supervi...

40-3614 Same; seizure of insurer; petition of commissioner; order of court; vacation of order; petition for hearing and review of order; failure to give notice to affected person.

40-3615 Confidentiality of records and documents in proceedings under 40-3613 and 40-3614; exceptions.

40-3616 Rehabilitation of insurer; application by commissioner for order of court; grounds.

40-3617 Same; order of court, contents; effect of filing or recording order; accounting by rehabilitator; effect of entry of order.

40-3618 Same; appointment of special deputy, counsel, clerks and assistants; payment of costs and expenses; advisory committee; authority and responsibility of rehabilitator; illegal or improper conduct detrimental to insurer, remedies; plans for reo...

40-3619 Same; litigation pending at time of entry of rehabilitation order, stay of action or proceeding; duties of court and rehabilitator; statutes of limitation and defenses of laches; rights of guaranty associations; rights of federal home loan ba...

40-3620 Same; petition for liquidation of insurer, when; defense against petition, payment of costs and expenses; termination of rehabilitation, petition and order; payment of costs and expenses.

40-3621 Liquidation of insurer; petition by commissioner; grounds.

40-3622 Same; contents of order; authority and responsibility of liquidator; effect of filing or recording of order; rights and liabilities of parties; insolvency of insurer, findings, petition and declaration by court; accounting by liquidator; appe...

40-3623 Same; continuation of insurance policies in effect at time of order of liquidation.

40-3624 Same; dissolution of corporate existence of insurer; permitting sale of the corporate existence; order of court.

40-3625 Same; authority and responsibility of liquidator; limitation.

40-3626 Same; notice of liquidation order; persons and associations to whom required; publication of notice; notice to specify date before which claims must be filed; change of address of claimants; distribution of assets conclusive if notice given i...

40-3627 Same; no actions brought, maintained or further presented against insurer or liquidator after order appointing liquidator; full faith and credit given to orders of other states; intervention in action pending in another state; actions or proc...

40-3628 Same; list of insurer's assets; time for preparation; amending and supplementing list; filing of list.

40-3629 Transfers of property and obligations incurred within one year prior to filing of petition for rehabilitation or liquidation; fraudulent transfers and obligations incurred; fraudulent transactions of insurers with reinsurers; liability of per...

40-3630 Transfer of property after petition for rehabilitation or liquidation filed; validity; judicial sales of property; liability of person receiving property fraudulently transferred; limitation.

40-3631 Transfer of property; preferences; rights of parties; jurisdiction of district court of Shawnee county; limitation on avoidance of preference.

40-3632 Claims of creditors; allowance; avoidance; filing.

40-3633 Mutual debts and mutual credits; setoff; accounting statements; debts currently due and payable.

40-3634 Payment of reinsurance upon insolvency of ceding insurer.

40-3635 Insurer determined insolvent; proposal to disburse assets; application by liquidator.

40-3636 Claims; proof of claims, form and filing; late filings.

40-3637 Same; proof of claim, form and information required; supplementary evidence and information may be required; judgments and orders; claims of guaranty associations.

40-3638 Same; claims which may be allowed; limitations.

40-3639 Same; denial of claims; objections to denial; claims secured by the undertaking of another, rights to prove and file.

40-3640 Same; value of security held by secured creditor.

40-3641 Claims; priority of distribution; classes established.

40-3642 Same; report and recommendations of liquidator for allowance of claims; contents of report; action by court; claims under insurance policy.

40-3643 Unclaimed fund; deposit in accordance with unclaimed property act.

40-3644 Discharge of liquidator; orders of court.

40-3645 Liquidation proceedings; reopening after termination; order of court.

40-3646 Same; disposition of records; direction by court.

40-3647 Receiverships; audits; filing and payment of costs.

40-3648 Foreign insurers; conservation of property; grounds; notice; terms and filing of court order; liquidation; termination of conservation.

40-3649 Same; liquidation of assets; order of court; grounds; notice; liquidator appointed in another state; petition to federal district court; payment of claims to residents.

40-3650 Same; authority of domiciliary liquidator; authority of commissioner if insurer not domiciled in reciprocal state; filing of claims.

40-3651 Same; appointment of ancillary receiver; order of court; authority of ancillary receiver.

40-3652 Same; supervision or seizure proceedings, authority of commissioner.

40-3653 Liquidation proceedings; begun in state against insurer domiciled in state; claimants residing outside state; filing, proving and allowance of claims.

40-3654 Same; begun in reciprocal state against insurer domiciled in that state; claimants residing in this state; filing, proving and allowance of claims.

40-3655 Same; no attachment, garnishment or levy of execution during pendency of liquidation proceedings.

40-3656 Same; proceeding in this state involving reciprocal states; order of distribution; equal priority of payment of claims from general assets; special deposit claims; secured claims.

40-3657 Same; ancillary receiver in another state or foreign country failing to transfer assets; priority of claims filed in such ancillary receivership; exceptions.

40-3658 Severability of act.

40-3659 Qualified financial contracts; procedures; duties of receiver.