40-4207. Membership fees; fiduciary responsibility of plan; deposit in bank account; records. All membership fees collected by a prepaid service plan on behalf of members shall be held by the prepaid service plan in a fiduciary capacity and shall be deposited promptly after receipt in a bank account established and maintained by the prepaid service plan. The prepaid service plan shall maintain records clearly recording the deposits in and withdrawals from such account on behalf of or for each member. The prepaid service plan shall keep copies of all such records.
History: L. 1987, ch. 157, ยง 7; Jan. 1, 1988.
Structure Kansas Statutes
Article 42 - Prepaid Legal And Dental Service Plans
40-4203 Registration of individuals soliciting memberships for plan.
40-4204 Utilization of services; payment of provider; right of provider not limited.
40-4205 Books and records, maintenance; examination; confidentiality.
40-4206 Use of provider's name in advertising.
40-4207 Membership fees; fiduciary responsibility of plan; deposit in bank account; records.
40-4208 Basis of compensation paid to plan.
40-4209 Certificate of registration; application; filing fee; issuance or continuation, when.