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40-1207

Chapter 40.--INSURANCE Article 12.--MUTUAL INSURANCE COMPANIES OTHER THAN LIFE

40-1207. Premiums, premium deposits; limitation on liability of policyholder;acceptance of notes for premiums in certain cases; determination of unearnedpremium reserves on certain policies.Such policies shall provide for a premium or premium deposit payable incash, and in no event shall the holderof any such policy be liable for a greater amount than the premium orpremium deposit expressed in the policy. Any insurancecompany organized and existing as a mutual fire insurance company of thestate of Kansasshall have the authority and right to accept notes for premium on farmproperty. The unearned premium reserve onpolicies written on the installment note plan shall be determined by theamount of cash collected in excess of the percentage earned on policieswritten for a cash premium, and in no case shall the cash collected onsuch installment note policies be less than the percentage earned onpolicies written for a cash premium.

History: L. 1927, ch. 231, 40-1207; L. 1939, ch. 211, § 4; L.1947, ch. 280, § 1; L. 1971, ch. 170, § 1; L. 1979, ch. 143, § 2; July 1.

State Codes and Statutes

Statutes > Kansas > Chapter40 > Article12 > Statutes_17529

40-1207

Chapter 40.--INSURANCE Article 12.--MUTUAL INSURANCE COMPANIES OTHER THAN LIFE

40-1207. Premiums, premium deposits; limitation on liability of policyholder;acceptance of notes for premiums in certain cases; determination of unearnedpremium reserves on certain policies.Such policies shall provide for a premium or premium deposit payable incash, and in no event shall the holderof any such policy be liable for a greater amount than the premium orpremium deposit expressed in the policy. Any insurancecompany organized and existing as a mutual fire insurance company of thestate of Kansasshall have the authority and right to accept notes for premium on farmproperty. The unearned premium reserve onpolicies written on the installment note plan shall be determined by theamount of cash collected in excess of the percentage earned on policieswritten for a cash premium, and in no case shall the cash collected onsuch installment note policies be less than the percentage earned onpolicies written for a cash premium.

History: L. 1927, ch. 231, 40-1207; L. 1939, ch. 211, § 4; L.1947, ch. 280, § 1; L. 1971, ch. 170, § 1; L. 1979, ch. 143, § 2; July 1.

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Statutes > Kansas > Chapter40 > Article12 > Statutes_17529

40-1207

Chapter 40.--INSURANCE Article 12.--MUTUAL INSURANCE COMPANIES OTHER THAN LIFE

40-1207. Premiums, premium deposits; limitation on liability of policyholder;acceptance of notes for premiums in certain cases; determination of unearnedpremium reserves on certain policies.Such policies shall provide for a premium or premium deposit payable incash, and in no event shall the holderof any such policy be liable for a greater amount than the premium orpremium deposit expressed in the policy. Any insurancecompany organized and existing as a mutual fire insurance company of thestate of Kansasshall have the authority and right to accept notes for premium on farmproperty. The unearned premium reserve onpolicies written on the installment note plan shall be determined by theamount of cash collected in excess of the percentage earned on policieswritten for a cash premium, and in no case shall the cash collected onsuch installment note policies be less than the percentage earned onpolicies written for a cash premium.

History: L. 1927, ch. 231, 40-1207; L. 1939, ch. 211, § 4; L.1947, ch. 280, § 1; L. 1971, ch. 170, § 1; L. 1979, ch. 143, § 2; July 1.