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KANSAS STATUTES AND CODES

40-247. Insurance agent or broker failing to pay premium to company; penalty.

40-247

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

      40-247.   Insurance agent or broker failing to paypremium to company;penalty.(a) An insurance agent or broker who acts in negotiating or renewing orcontinuing a contract of insurance including any type of annuity by aninsurance company lawfully doingbusiness in this state, and who receives any money or substitute for moneyas a premium for such a contract from the insured, whether such agentor broker shall be entitled to an interest in same or otherwise, shall bedeemed to hold suchpremium in trust for the company making the contract. If such agent orbroker fails to paythe same over to the company after written demand made uponsuch agent or broker,less such agent's or broker's commission and any deductions, towhich by the written consent ofthe company such agent or broker may be entitled, such failure shallbe prima facie evidencethat such agent or broker has used or applied the premiumfor a purpose other than paying the same over to the company.

      (b) (1)   An agent or broker who violates the provisions of this sectionshall be guilty of a:

      (A)   Severity level 7, nonperson felony if the value of theinsurance premium is $25,000 or more;

      (B)   severity level 9, nonperson felony if the value of theinsurance premium is at least $1,000 but less than $25,000;or

      (C)   class A nonpersonmisdemeanor ifthe value of the insurancepremium is less than $1,000.

      (2)   If the value of the insurance premium isless than $1,000 and such agent or broker has, within fiveyearsimmediately preceding commission of the crime, been convicted of violating thissection two or more times shall be guilty of a severity level 9,nonperson felony.

      History:   L. 1927, ch. 231, 40-247;L. 1992, ch. 288, § 10;L. 1993, ch. 291, § 226;L. 1994, ch. 291, § 73;L. 2006, ch. 194, § 28; May 25.

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