40-755. Annual statement to include valuation of certificates in force; certification or verification of actuary. As part of the annual statement herein required, each society shall, on or before the first day of March, file with the commissioner of insurance a valuation of its certificates in force on December 31 last preceding, providing the commissioner of insurance may, in the exercise of discretion for cause shown, extend the time for filing such valuation for not more than two calendar months. Such valuation shall be done in accordance with the standards specified in K.S.A. 40-754. Such valuation and underlying data shall be certified by a qualified actuary or, at the expense of the society, verified by the actuary of the department of insurance of the state of domicile of the society.
History: L. 1988, ch. 154, § 18; L. 1997, ch. 24, § 2; July 1.
Structure Kansas Statutes
Article 7 - Fraternal Benefit Societies
40-740 Representative form of government; election and voting criteria.
40-743 Laws and rules; provisions relating to membership to be specified.
40-746 Society's laws nonwaivable by subordinate bodies, officers or members.
40-748 Benefits not subject to attachment, garnishment or process.
40-750 Valuation of paid-up nonforfeiture benefits, cash surrender values and loan or other options.
40-753 Insurance laws application to societies.
40-757 Examinations; notice and opportunity to respond; payment of expenses.
40-767 Reinsurance; limitations; credit for reserves on ceded risks.
40-769 Conversion of society into mutual or stock life insurance company.
40-772 Same; report of meeting to be filed with commissioner.
40-778 Review of commissioner's decisions.