40-758. Foreign and alien societies to procure license to transact business in state; filing and other requirements.

242 words·~1 min read·/ks/chapter-40/40-758

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

40-758. Foreign and alien societies to procure license to transact business in state; filing and other requirements. No foreign or alien society shall transact business in this state without a license issued by the commissioner of insurance as provided in K.S.A. 40-214 , and amendments thereto. Any such society desiring admission to this state shall:

(a)Comply substantially with the requirements and limitations of this act applicable to domestic societies and the applicable provisions of K.S.A. 40-209 , and amendments thereto;

(b)file with the commissioner of insurance:

(1)A duly certified copy of its articles of incorporation;

(2)a copy of its bylaws, certified by its secretary or corresponding officer;

(3)a power of attorney to the commissioner of insurance as prescribed in K.S.A. 40-777 ;

(4)a statement of its business, under oath of its president and secretary or corresponding officers, in a form prescribed by the commissioner of insurance, duly verified by an examination made by the supervising insurance official of its home state or other state, territory, province or country, satisfactory to the commissioner of insurance;

(5)a certificate from the proper official of its home state, territory, province or country that the society is legally incorporated and licensed to transact business therein;

(6)copies of its certificate forms; and

(7)such other information as the commissioner of insurance may deem necessary; and

(c)show that its assets are invested in accordance with the provisions of this act.