40-237. Contracts and promissory notes by minors. - Kansas Statutes

40-237

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

      40-237.   Contracts and promissory notes by minors.Minors may consummate contracts respecting insurance the same as adults,and any policy, certificate or other evidence of such contract shall bebinding upon the minor to the same extent, as though of legal age, and anyminor entering into any such insurance contract also may enter into apromissory note or installment contract for the payment of the first orsubsequent premiums due under such insurance contract, the same as anadult, and any such promissory note or installment contract shall bebinding upon such minor to the same extent as though he were of legal age:Provided, That all such contracts made by a minor shall have thewritten consent of either a parent, guardian, or conservator: Providedfurther, That if any insurance company or any insurance agent acceptsfrom a minor a promissory note or installment contract for the payment ofthe first or subsequent premiums on a policy of life insurance, said noteor contract shall be cosigned by a person over the age of eighteen (18)years, and a copy of said note or contract shall be furnished all partiesthereto. A copy of said note or contract shall be furnished to theconsenting parent, guardian, or conservator.

      History:   L. 1927, ch. 231, 40-237; L. 1965, ch. 297, § 1; L. 1971, ch. 160, §1; L. 1972, ch. 161, § 10; July 1.