40-4369. Pleading in legal actions; named parties; assets.
277 words·~1 min read·
/ks/chapter-40/40-4369A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
40-4369. Pleading in legal actions; named parties; assets.
(a)The pleadings in any legal action brought by or against a protected cell captive insurance company shall specify which protected cell or cells should be named as a party to the suit. If the general account is party to this suit, it shall be separately identified in the pleadings as if it were a protected cell.
(b)A legal action brought against a protected cell captive insurance company that does not specify one or more protected cells shall be deemed to have been brought against the general account only.
(c)Any protected cell that is not named in the pleadings of the legal action shall not be deemed to be a party to the legal action. Any protected cell that is erroneously named as a party or named without proper cause shall be entitled to prompt dismissal from the legal action.
(d)Unless specified by the plan of operation, participant contract or other prior contractual agreement, the assets of one protected cell may not be encumbered or seized to satisfy the obligations of or a judgment against any other protected cell. No protected cell shall have a duty to defend the rights and obligations of any other protected cell.
(e)In any legal action involving a protected cell captive insurance company or a protected cell, any papers, documents or property of a nonparty protected cell shall be afforded the same status during discovery as the documents or property of any other unrelated third party. A nonparty protected cell shall have standing to appear and petition for any appropriate relief to protect the confidentiality of its papers or documents.