40-4329. Same; annual report. (a) A branch captive insurance company shall file with the commissioner a copy of all reports and statements required to be filed under the laws of the jurisdiction in which the alien captive insurance company is formed, verified by oath of two of its executive officers. Such reports and statements shall be filed with the commissioner on the same day that such reports and statements are due in the domiciliary jurisdiction of the alien captive insurance company.
(b) If the commissioner is satisfied that the annual report filed in accordance with subsection (a) provides adequate information concerning the financial condition of the branch captive insurance company, the commissioner may waive the requirement for completion of the annual report required under K.S.A. 40-4307, and amendments thereto. If the commissioner is not satisfied with the reports and statements filed pursuant to subsection (a), a report that meets the requirements of K.S.A. 40-4307, and amendments thereto, shall be filed with the commissioner at such date as the commissioner shall establish.
(c) If the branch captive insurance company is not required to file reports or statements in its domiciliary jurisdiction, the requirements of K.S.A. 40-4307, and amendments thereto, shall apply.
(d) All reports shall be provided the same confidential treatment as provided in K.S.A. 40-4308, and amendments thereto.
History: L. 2018, ch. 50, ยง 12; 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.