40-1016. Limitation on amount of risk; reinsurance.
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/ks/chapter-40/40-1016A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
40-1016. Limitation on amount of risk; reinsurance. No such company shall expose itself to loss on any one risk or hazard, either by one or more policies, to an amount exceeding ten percent of all its resources at the date of the policy, unless such excess be reinsured, except in organizing the company policies may be issued up to one thousand dollars, and such company may reinsure such portion of its risk as the board of directors deem for the best interest of its policyholders.