40-516. Same; act supplemental to insurance code; severability. (a) Nothing contained in this act shall be construed to enlarge the charter powers of any insurance company except in conformity with the provisions of the proposed articles of incorporation of the merged or consolidated company as provided in this act, nor to authorize any insurance company to do any kind of insurance business not authorized by its charter or articles of incorporation, nor to authorize any insurance company to do any kind of insurance business in this state not authorized by its license or certificate of authority to do business in this state.
(b) This act shall be part of and supplemental to the insurance code of the state of Kansas.
(c) If any provision of this act or the application of such provision to any person or circumstance shall be held invalid, the remainder of this act and the application of such provision to persons and circumstances other than those as to which it is held invalid shall not be affected thereby.
History: L. 1980, ch. 135, ยง 10; July 1.
Structure Kansas Statutes
Article 5 - Mutual Life Insurance Companies
40-502 Directors and officers; vacancies; elections.
40-504 Certificate of authority; procedure and fee; duties of attorney general.
40-505 Suspension of business.
40-507 Merger or consolidation; order of commissioner directing delivery of assets.
40-508 Same; merger and consolidation defined.
40-509 Same; resolution of boards of directors.
40-511 Same; approval by two-thirds vote of policyholders; notice of meeting; summary of agreement.
40-512 Same; impaired insurer.
40-513 Same; articles of merger or consolidation, requirements.
40-515 Same; compensation of directors and officers; criminal penalties.
40-516 Same; act supplemental to insurance code; severability.