40-806. Continued transactions by burial insurance corporations engaging in business on January 1, 1961; conditions; limitation on risks.
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/ks/chapter-40/40-806A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
40-806. Continued transactions by burial insurance corporations engaging in business on January 1, 1961; conditions; limitation on risks. Any corporation already organized under the laws of this state and transacting the business of burial insurance on January 1, 1961, may continue the transaction of such business as provided by the laws of this state prior to the effective date of this act, except that such corporation may write burial insurance in an amount not exceeding three thousand dollars ($3,000) on any one life.
If and when such a corporation alters its capital structure it must then comply with all of the requirements relating to capital stock life insurance companies organized under other provisions of the insurance code of the state of Kansas.