40-2d25. Mandatory control level event; foreign health organization; liquidation of property. - Kansas Statutes

40-2d25

Chapter 40.--INSURANCE Article 2d.--HEALTH ORGANIZATION RISK-BASED CAPITAL REQUIREMENTS

      40-2d25.   Mandatory control level event; foreignhealth organization; liquidation of property.In the event of a mandatory control level event withrespectto any foreign health organization, if no domiciliary receiver has beenappointed with respect to the foreign health organization under therehabilitation and liquidation statute applicable in the state of domicile ofthe foreign health organization, the commissioner may make application to thedistrict court as permitted under K.S.A. 40-3605 et seq. andamendments thereto with respect to the liquidation of property of foreignhealth organizations found in this state, and the occurrence of the mandatorycontrol level event shall be considered adequate grounds for the application.

      History:   L. 2000, ch. 147, § 26; July 1.