40-222d. Same; company deemed to be in hazardous financial condition, when. - Kansas Statutes

40-222d

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

      40-222d.   Same; company deemed to be in hazardous financialcondition, when.For the purposes of this act a company may be deemed to be in ahazardous financial condition when the commissioner has determined,after notice and hearing as provided in K.S.A. 40-222b, thatthe loss experience of the company, when reviewed in conjunction withthe kinds and nature of risks insured, the financial condition of thecompany and its ownership or the ratio of the annual premium volume inproportion to the company's policyholders surplus creates a conditionthat would make further assumption of risks hazardous to the insuringpublic.

      History:   L. 1972, ch. 177, § 3; July 1.