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Statutes > Kansas > Chapter40 > Article2 > Statutes_16897

40-232

Chapter 40.--INSURANCE Article 2.--GENERAL PROVISIONS

40-232. Sale of stock with insurance.It shall be unlawful for any insurance company, or any officer or agentthereof, or any other person or persons connected with such company, tosell the stock of any company or corporation in connection with the writingor selling of a policy of insurance or to offer any special inducement ofany kind or character whatsoever in connection with the selling of suchpolicy: Provided, That it shall be lawful for any insurance companyorganized under the laws of this state to sell or provide for the sale ofits capital stock with the writing and selling of its policies of insuranceif the amount for which such stock is sold, less the commission allowed bylaw for the sale of stock in insurance companies, is, when received, paidto and becomes a part of the capital and surplus of such insurance company.

History: L. 1927, ch. 231, 40-232; June 1.

State Codes and Statutes

Statutes > Kansas > Chapter40 > Article2 > Statutes_16897

40-232

Chapter 40.--INSURANCE Article 2.--GENERAL PROVISIONS

40-232. Sale of stock with insurance.It shall be unlawful for any insurance company, or any officer or agentthereof, or any other person or persons connected with such company, tosell the stock of any company or corporation in connection with the writingor selling of a policy of insurance or to offer any special inducement ofany kind or character whatsoever in connection with the selling of suchpolicy: Provided, That it shall be lawful for any insurance companyorganized under the laws of this state to sell or provide for the sale ofits capital stock with the writing and selling of its policies of insuranceif the amount for which such stock is sold, less the commission allowed bylaw for the sale of stock in insurance companies, is, when received, paidto and becomes a part of the capital and surplus of such insurance company.

History: L. 1927, ch. 231, 40-232; June 1.

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Statutes > Kansas > Chapter40 > Article2 > Statutes_16897

40-232

Chapter 40.--INSURANCE Article 2.--GENERAL PROVISIONS

40-232. Sale of stock with insurance.It shall be unlawful for any insurance company, or any officer or agentthereof, or any other person or persons connected with such company, tosell the stock of any company or corporation in connection with the writingor selling of a policy of insurance or to offer any special inducement ofany kind or character whatsoever in connection with the selling of suchpolicy: Provided, That it shall be lawful for any insurance companyorganized under the laws of this state to sell or provide for the sale ofits capital stock with the writing and selling of its policies of insuranceif the amount for which such stock is sold, less the commission allowed bylaw for the sale of stock in insurance companies, is, when received, paidto and becomes a part of the capital and surplus of such insurance company.

History: L. 1927, ch. 231, 40-232; June 1.