40-259. Continuity of management of domestic companies in national emergency; declaration of purpose. - Kansas Statutes

40-259

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

      40-259.   Continuity of management of domestic companies in nationalemergency; declaration of purpose.The legislature declares that it is desirable for the general welfareand in particular for the welfare of insurance beneficiaries,policyholders, injured claimants and others that the business of domesticinsurance companies be continued notwithstanding the event of a nationalemergency.

      The specific purpose of this chapter is to facilitate the continuedoperation of domestic insurance companies in the event that a nationalemergency is caused by an attack on the United States or by a nuclear,atomic or other disaster which makes it impossible or impracticable for acompany to conduct its business in strict accord with applicable provisionsof law, its bylaws, or its charter.

      History:   L. 1965, ch. 312, § 1; June 30.