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KANSAS STATUTES AND CODES
40-4506. Same; conditions; broker to provide insurer annual statement of financial condition.
40-4506
40-4506. Same; conditions; broker to provide insurer annual statement offinancial condition.(a) An insurer shall not engage the services of any person, firm,association or corporation to act as a reinsurance broker on its behalf unlesssuch person is licensed as required by subsection (a) of K.S.A.40-4503.
(b) An insurer may not employ an individual who is employed by a reinsurancebroker with which it transacts business, unless such reinsurance broker isunder common control with the insurer and subject to the holding company act.
(c) The insurer shall annually obtain a copy of statements of the financialcondition of each reinsurance broker with which it transacts business.
History: L. 1992, ch. 15, § 6; Dec. 31.