40-965. Same; review of commissioner's actions; rates pending final determination of court. - Kansas Statutes

40-965

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

      40-965.   Same; review of commissioner's actions; rates pending finaldetermination of court.The filing of a petition for review of any action of thecommissioner under this act, shall act as astay of any such action, if it provides for a change in any rating systemresulting in an increase or decrease in premiums. Any insurer affected by suchorder may continue to charge rates which obtained prior to thecommissioner's order to increase or decrease rates, on condition that thedifference in premiums shall be deposited with the commissioner of insurance bythe insurer and, on the final determination of the suit, shall be paid by thecommissioner to the insurer if the court shall find the insurer entitled to it,or to the holders of policies written by the insurer, after the rate complainedof was ordered by the commissioner as the court may deem just and equitable.The court, at its discretion, in lieu of such deposit, may require ofthe insurer a bond with such sureties and in such sum as the court may approve.

      History:   L. 1997, ch. 154, § 15; July 1.