40-270. Provisions of 40-264 to 40-266 inapplicable to equity securities of domestic companies, when. - Kansas Statutes

40-270

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

      40-270.   Provisions of 40-264 to 40-266 inapplicable to equitysecurities of domestic companies, when.The provisions of K.S.A. 40-264, 40-265 and 40-266 shall not apply to equitysecurities of a domestic stock insurancecompany if (a) such securities shall be registered, or shall be requiredto be registered, pursuant to section 12 [*] of the securities exchangeact of 1934, as amended, or if (b) such domestic stock insurance companyshall not have any class of its equity securities held of record by onehundred (100) or more persons on the last business day of the year nextpreceding the year in which equity securities of the company would besubject to the provisions of K.S.A. 40-264, 40-265 and 40-266 except forthe provisions of this subsection (b).

      History:   L. 1965, ch. 309, § 7; June 30.