State Codes and Statutes

Statutes > Kansas > Chapter40 > Article19c > Statutes_17685

40-19c08

Chapter 40.--INSURANCE Article 19c.--NONPROFIT MEDICAL AND HOSPITAL SERVICE CORPORATIONS

40-19c08. Advance of money; reports.Any director, officer or member of any corporation organized under the nonprofitmedical and hospital service corporation act, or any otherperson may advance to such corporation any sum or sums of moneynecessary for the purposes of its business or to enable it to complywith any of the requirements of the laws of this state, and such moneysand such interest thereon as may have been agreed upon, not exceedingfour percentum per annum, shall be payable only out of the surplusremaining after providing for all reserves and otherliabilities and shall not otherwise be a liability or claim against thecorporation or any of its assets. No commission or promotion expensesshall be paid in connection with the advance of any such money to thecorporation, and the amount of such advance shall be reported in eachannual statement.

History: L. 1980, ch. 137, § 26; July 1.

State Codes and Statutes

Statutes > Kansas > Chapter40 > Article19c > Statutes_17685

40-19c08

Chapter 40.--INSURANCE Article 19c.--NONPROFIT MEDICAL AND HOSPITAL SERVICE CORPORATIONS

40-19c08. Advance of money; reports.Any director, officer or member of any corporation organized under the nonprofitmedical and hospital service corporation act, or any otherperson may advance to such corporation any sum or sums of moneynecessary for the purposes of its business or to enable it to complywith any of the requirements of the laws of this state, and such moneysand such interest thereon as may have been agreed upon, not exceedingfour percentum per annum, shall be payable only out of the surplusremaining after providing for all reserves and otherliabilities and shall not otherwise be a liability or claim against thecorporation or any of its assets. No commission or promotion expensesshall be paid in connection with the advance of any such money to thecorporation, and the amount of such advance shall be reported in eachannual statement.

History: L. 1980, ch. 137, § 26; July 1.

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > Kansas > Chapter40 > Article19c > Statutes_17685

40-19c08

Chapter 40.--INSURANCE Article 19c.--NONPROFIT MEDICAL AND HOSPITAL SERVICE CORPORATIONS

40-19c08. Advance of money; reports.Any director, officer or member of any corporation organized under the nonprofitmedical and hospital service corporation act, or any otherperson may advance to such corporation any sum or sums of moneynecessary for the purposes of its business or to enable it to complywith any of the requirements of the laws of this state, and such moneysand such interest thereon as may have been agreed upon, not exceedingfour percentum per annum, shall be payable only out of the surplusremaining after providing for all reserves and otherliabilities and shall not otherwise be a liability or claim against thecorporation or any of its assets. No commission or promotion expensesshall be paid in connection with the advance of any such money to thecorporation, and the amount of such advance shall be reported in eachannual statement.

History: L. 1980, ch. 137, § 26; July 1.