40-1217. Merger or consolidation of certain mutual companies other than life; powers of merged company. - Kansas Statutes

40-1217

Chapter 40.--INSURANCE Article 12.--MUTUAL INSURANCE COMPANIES OTHER THAN LIFE

      40-1217.   Merger or consolidation of certain mutual companies otherthan life; powers of merged company.Any, other than life, solvent domestic mutual insurance company,organized pursuant to the provisions of K.S.A. chapter 40, article 10, 12or 15, may:

      (1)   Merge or consolidate with any other, other than life, solventdomestic mutual insurance company as hereinafter provided.

      (2)   Merge or consolidate with any other, other than life, solventnon-domestic mutual insurance company which is authorized to do aninsurance business in this state if such merger or consolidation isauthorized by the laws of the state or territory in which such non-domesticcompany is organized as hereinafter provided.

      (3)   By virtue of such merger or consolidation, do the kinds of insurancebusiness in the manner and for the purposes for which a, other than life,mutual insurance company may be organized in this state or in the mannerand for the purposes for which a, other than life, non-domestic mutualinsurance company may be licensed or authorized to do business in thisstate.

      History:   L. 1957, ch. 289, § 2; L. 1970, ch. 180, § 1; July 1.