40-273. Joint underwriting and joint reinsurance; filing requirements; changes; prohibitions. - Kansas Statutes

40-273

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

      40-273.   Joint underwriting and joint reinsurance; filing requirements;changes; prohibitions.Every group, association or other organization of insurers which engagesin joint underwriting or joint reinsurance through such group, associationor other organization or by standing agreement among the members thereof,shall file with the commissioner (1) a copy of its constitution, itsarticles of agreement or association or its articles or certificates ofincorporation or other contractual provisions governing the activities ofsuch group, association or other organization and of its bylaws, rules andregulations governing its activities; (2) a list of its members; (3) thename and address of a resident of this state upon whom notices or orders ofthe commissioner or other process may be served; and (4) an agreement thatthe commissioner may examine such underwriting group, association or otherorganization in accordance with 40-222 of the Kansas Statutes Annotated,unless such examination has been made by the state where the principaloffice of such group, association or other organization of insurers islocated and that such examination is made available to the Kansas insurancedepartment. Every such group, association or other organization shallnotify the commissioner promptly of every change in its constitution, itsarticles or certificates of incorporation, agreement or association orother contractual provisions governing the activities of such group,association or other organization and of its bylaws, rules and regulationsgoverning the conduct of its activities; its list of members; and the nameand address of the resident of this state upon whom notices or orders ofthe commissioner or other process may be served.

      No such group, association or organization shall engage in any unfair orunreasonable practice with respect to such activities.

      History:   L. 1965, ch. 311, § 1; June 30.