40-902. Deposit of securities by stock insurance company. - Kansas Statutes

40-902

Chapter 40.--INSURANCE Article 9.--GENERAL PROVISIONS RELATING TO FIRE INSURANCE COMPANIES

      40-902.   Deposit of securities by stock insurancecompany.Every stock fire insurance company organized under the laws of thisstate, shall deliver to the commissioner of insurance cash or securities ofthe kinds in which such a company is permitted to invest its funds underthe provisions of this code, in an amount equal to not less than theminimum capital stock required of such a company by the preceding section,and such cash or securities shall be depositedpursuant to K.S.A. 40-229a for the benefit of its policyholdersand creditors.

      History:   L. 1927, ch. 231, 40-902; L. 1969, ch. 237, § 4;L. 1996, ch. 25, § 10; July 1.