40-262. Same; succession national emergency lists; basis; conditions. - Kansas Statutes

40-262

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

      40-262.   Same; succession national emergency lists; basis; conditions. At any time the board of directors of a domestic insurance company may,by resolution, provide that in the event of such a national emergency andin the event of the death or incapacity of the president, the secretary orthe treasurer of the company such officers, or any of them, shall besucceeded in the office by the person named or described in a successionlist adopted by the board of directors. Such list may be on the basis ofnamed persons or position titles, shall establish the order of priority andmay prescribe the conditions under which the powers of the office shall beexercised.

      History:   L. 1965, ch. 312, § 4; June 30.