40-4326. Same; definitions. As used in K.S.A. 40-4325 through 40-4331, and amendments thereto:
(a) "Alien" means formed under the laws of any country or jurisdiction other than the United States of America or any of its states, districts, commonwealths or possessions.
(b) "Alien captive insurance company" means any insurance company formed to write insurance business of a nature that the commissioner determines is otherwise permissible under this act and is licensed or authorized pursuant to the laws of an alien jurisdiction that imposes statutory or regulatory standards in a form acceptable to the commissioner on companies transacting business of insurance in such jurisdiction.
(c) "Branch business" means any insurance business transacted by a branch captive insurance company in Kansas.
(d) "Branch captive insurance company" means any alien captive insurance company that has been issued a certificate of authority by the commissioner to transact the business of insurance in Kansas through a business unit with a principal place of business in Kansas, and has not otherwise been issued a certificate of authority by the commissioner to transact insurance under this act.
(5) "Branch operations" means any business operations of a branch captive insurance company in Kansas.
(6) "Principal representative" shall mean a person designated as such by the branch captive insurance company as its principal representative on such forms and with such information as required by the commissioner.
History: L. 2018, ch. 50, ยง 9; July 1.
Structure Kansas Statutes
Article 43 - Captive Insurance Companies
40-4307 Annual report of financial condition.
40-4308 Examination of companies; report; orders; confidentiality.
40-4309 Suspension or revocation of certificate of authority; grounds.
40-4310 Investments; restrictions and limitations.
40-4311 Reinsurance authority; requirements and limitation; credit for reserves on risks ceded.
40-4312 No requirement to join rating organization.
40-4313 Companies prohibited from joining or benefiting from insolvency guarantee funds; notice.
40-4317 Rules and regulations; exemptions.
40-4320 Same; actions requiring prior approval of commissioner.
40-4321 Same; books and records; maintenance requirements.
40-4322 Same; fund established.
40-4323 Same; dormant captive insurance companies; certification of; renewal.
40-4324 Same; notification of material change required.
40-4325 Branch captive insurance companies; establishment.
40-4327 Same; capital requirements; exemptions.
40-4328 Same; certification of general good required.
40-4330 Same; examinations; confidentiality.
40-4332 Special purpose insurance captives; definitions.
40-4334 Same; certification required; requirements.
40-4335 Same; plan of operation.
40-4336 Same; commissioner's findings to approve application.
40-4337 Same; incorporation of companies.
40-4338 Same; miscellaneous requirements.
40-4340 Same; issuance of securities.
40-4341 Same; asset management.
40-4342 Same; admitted assets.
40-4343 Same; prohibited activities.
40-4344 Same; dividends and distributions; limitations.
40-4345 Same; plan of operation; changes.
40-4346 Same; affiliated agreements.
40-4348 Same; examinations; reports.
40-4350 Same; confidentiality.
40-4351 Same; conservation, rehabilitation or liquidation, grounds for.