40-2417. Same; notice of unlawful advertising to insurer and to supervisory official in domiciliary state. - Kansas Statutes

40-2417

Chapter 40.--INSURANCE Article 24.--REGULATION OF CERTAIN TRADE PRACTICES

      40-2417.   Same; notice of unlawful advertising to insurer and tosupervisory official in domiciliary state.No unauthorized foreign or alien insurer of the kind described inK.S.A. 40-2415 shall make, issue, circulate or cause to be made,issued or circulated, to residents of this state any estimate,illustration, circular, pamphlet, or letter, or cause to be made in anynewspaper, magazine or other publication or over any radio or televisionstation, any announcement or statement to such residents misrepresentingits financial condition or the terms of any contracts or certificates ofinsurance issued or to be issued or the benefits or advantages promisedthereby, or the dividends or share of the surplus to be received thereonin violation of the unfair trade practice law, and whenever thecommissioner shall have reason to believe that any such insurer isengaging in such unlawful advertising, it shall be his duty to givenotice of such fact by registered mail to such insurer and to theinsurance supervisory official of the domiciliary state of such insurer.For the purpose of this section, the domiciliary state of an alieninsurer shall be deemed to be the state of entry or the state of theprincipal office in the United States.

      History:   L. 1963, ch. 265, § 3; July 1.