40-3802. Same; agreements between insurer and administrator; contents. - Kansas Statutes

40-3802

Chapter 40.--INSURANCE Article 38.--REGULATION AND REGISTRATION OF ADMINISTRATORS

      40-3802.   Same; agreements between insurer and administrator;contents.(a) No administrator shall act as such without a written agreementbetween the administrator and the insurer, and such written agreementshall be retained as part of the official records of both the insurerand the administrator for the duration of the agreement and five (5)years thereafter. Such written agreement shall contain provisions whichinclude the requirements of K.S.A. 40-3803, 40-3805 to40-3809, inclusive, except insofar as those requirements do not apply tothe functions performed by the administrator.

      (b)   Where a policy is issued to a trustee or trustees, a copy of thetrust agreement and any amendments thereto shall be furnished to theinsurer by the administrator and shall be retained as part of theofficial records of both the insurer and the administrator for theduration of the policy and five (5) years thereafter.

      History:   L. 1978, ch. 174, § 2; July 1.