40-207. Secretary and certain officers to give bond. - Kansas Statutes

40-207

Chapter 40.--INSURANCE Article 2.--GENERAL PROVISIONS

      40-207.   Secretary and certain officers to give bond.The board of directors or other managing body of every insurance companyorganized under the laws of this state shall require the secretary, and allother officers having the care and handling of the funds and securities ofthe company, to give a good and sufficient bond to cover the term for whichthey are elected, appointed or employed, conditioned for the faithfulaccounting and disbursement of all money that may come into their hands;such bond to be in an amount named and to be approved by the board ofdirectors, and other governing body, and to be held by a custodian to bedesignated by such board or body, and the expense of providing such a bondmay be charged to the operating expense of the company.

      History:   L. 1927, ch. 231, 40-207; June 1.