40-403b. Same; foreign companies. - Kansas Statutes

40-403b

Chapter 40.--INSURANCE Article 4.--GENERAL PROVISIONS RELATING TO LIFE INSURANCE COMPANIES

      40-403b.   Same; foreign companies.Any life insurance company organized under the laws of another country,state, or territory and authorized to do business in the state ofKansas, shall, within the limitations of the powers vested in it by thelaws of the state wherein it was incorporated, be permitted to investits capital, reserve and surplus funds within the state of Kansas in thesame manner, to the same extent and in the same investments as arepermitted to domestic life insurance companies organized under the lawsof this state: Provided, That nothing herein contained shall be soconstrued as to prohibit any such foreign company from investing itscapital, reserve, and surplus funds as permitted by its charter and thelaws of its domiciliary state: And provided further, That suchcompany shall not engage in the agricultural or horticultural businessof producing, planting, raising, harvesting or gathering of wheat, corn,barley, oats, rye or potatoes, or the milking of cows for dairypurposes.

      History:   L. 1947, ch. 283, § 1; April 12.