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Code · Kansas · Chapter 40 — Insurance

40-4343. Same; prohibited activities.

86 words·~1 min read·/ks/chapter-40/40-4343

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40-4343. Same; prohibited activities. A special purpose insurance captive shall not:
(a)Enter into a special purpose insurance captive contract with a person that is not authorized to transact the business of insurance or reinsurance in at least its state or country of domicile; or
(b)lend or otherwise invest or place in custody, trust or under management any of its assets with, or to borrow money or receive a loan, other than according to the plan of operation filed with and approved by the commissioner.
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