40-274. Same; solicitation; countersignature requirements. - Kansas Statutes

40-274

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

      40-274.   Same; solicitation; countersignature requirements.Whenever the affiliate companies of any joint underwriting groupdescribed in K.S.A. 40-273 issue policies in this state thatobligate more than one (1) insurer, severally or jointly, thesolicitation of such policies must be accomplished by a licensedresident agent for at least one (1) of the companies assuming directliability on the risk: Provided, That such policy must becountersigned by a licensed resident agent for each company assumingdirect liability as provided in K.S.A. 40-246: Provided further,Such countersignature requirement may be accomplished by means of anendorsement on which the signatures of licensed resident agents of allcompanies assuming direct liability on the policy are placed.

      History:   L. 1967, ch. 248, § 1; July 1.