40-4005. Same; meeting for approval by policyholders. - Kansas Statutes

40-4005

Chapter 40.--INSURANCE Article 40.--CONVERSION OF DOMESTIC MUTUAL INSURER INTO DOMESTIC STOCK INSURER

      40-4005.   Same; meeting for approval by policyholders.The meeting called for approval of the plan by the policyholdersprescribed by K.S.A. 40-4002 and amendments thereto shall be called by amajority ofthe board of directors,the chairperson of the board or the president. A copy of the plan and anyinformation the commissioner deems necessary to policyholderunderstanding, including a comprehensible summary of the plan in a formapproved by the commissioner, shall accompany the notice.

      History:   L. 1985, ch. 154, § 5;L. 1997, ch. 107, § 7; July 1.