40-12a08. Liability of insureds; certain distributions precluded. - Kansas Statutes

40-12a08

Chapter 40.--INSURANCE Article 12a.--MUTUAL INSURANCE COMPANIES ORGANIZED TO PROVIDE HEALTH CARE PROVIDER LIABILITY INSURANCE

      40-12a08.   Liability of insureds; certaindistributions precluded.No insured shall be liable for any amounts other than theannual premium. The business of the company shall be conducted soas to preclude any distribution of income, profit or property of thecompany to the individual members thereof except in payment of dividends,debts, claims or indemnities or upon the final dissolution of the company.

      History:   L. 1988, ch. 147, § 8;L. 1997, ch. 52, § 5; July 1.