40-1609. Power of corporation to exchange contracts. - Kansas Statutes

40-1609

Chapter 40.--INSURANCE Article 16.--RECIPROCAL OR INTERINSURANCE CONTRACTS

      40-1609.   Power of corporation to exchange contracts.Any corporation now or hereafter organized under the laws of this state,shall, in addition to the right, powers and franchises specified in itsarticles of incorporation, have full power and authority to exchangecontracts of the kind and character herein mentioned. The right to exchangesuch contracts is hereby declared to be incidental to the purposes forwhich such corporations are organized and as much granted as the rights andpowers expressly conferred.

      History:   L. 1927, ch. 231, 40-1609; June 1.