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KANSAS STATUTES AND CODES

40-1611. Levies and taxes on premiums; payment; deductions.

40-1611

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

      40-1611.   Levies and taxes on premiums; payment;deductions.(a) Each reciprocal shall pay to the commissioner ofinsurance levies and taxes in the amount and as specified in K.S.A. 40-252,40-1703, 40-1704 and 75-1508, and amendments thereto. All such levies andtaxes onpremiumsshall be applicable to premiums received on or after January 1, 1957. The abovefees, levies and taxes shall be in lieu of all license fees and taxes ofwhatever character in this state and incalculating all such levies and taxes such reciprocal shall be permittedto deduct therefrom premiums returned on account of cancellations, all premiumsreceived for reinsurance from any other company authorized to do business inthis state, and savings paid or credited to subscriber policyholders.

      (b)   For the purpose of payment of the levies and taxes specified in K.S.A.40-252, 40-1703, 40-1704 and 75-1508 and amendments thereto, a reciprocal andits attorney-in-fact shall be considered to be the same entity.

      History:   L. 1927, ch. 231, 40-1611;L. 1957, ch. 286, § 1;L. 1965, ch. 299, § 2;L. 2000, ch. 170, § 26;L. 2007, ch. 54, § 1; July 1.

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