40-1514. Withdrawal by policyholder. - Kansas Statutes

40-1514

Chapter 40.--INSURANCE Article 15.--MUTUAL HAIL INSURANCE COMPANIES

      40-1514.   Withdrawal by policyholder.Any member may withdraw from the company by surrendering his policy forcancellation, and by the full payment of the premium or note therefor,actually delivered to the company in cash, in which case the company shallretain the customary short rate. In case of loss, upon maturity of any notegiven as consideration the company may deduct such note in settlement ofany claim which may arise. Cancellation by any company of its contract ofinsurance shall be made upon proper notice to the policyholder and by thereturn to the assured of the unearned premium.

      History:   L. 1927, ch. 231, 40-1514; June 1.