State Codes and Statutes
Statutes > Kansas > Chapter40 > Article26 > Statutes_1790440-2602
40-2602. Definitions.For the purpose of this act: (a) "Insurance premium finance company"means a person engaged in the business of entering into insurance premiumfinance agreements under this act.
(b) "Premium finance agreement" means an agreement by which an insuredor prospective insured promises to pay to a premium finance company theamount advanced or to be advanced under the agreement to an insurer or toan insurance agent in payment of premium on an insurance contract insuringagainst the perils of fire, extended coverage, marine and inland marine asdefined in article 9 of chapter 40 of the Kansas Statutes Annotated, andamendments thereto, and insuring against casualty lossesas defined in article 11 ofchapter 40 of the Kansas Statutes Annotated andamendments thereto,together with a service charge as authorized and limited by this act.
(c) "Licensee" means an insurance premium finance company holding alicense issued by the commissioner under this act.
(d) "Commissioner" as used in this act means the commissioner ofinsurance of the state of Kansas.
(e) "Premium" for purposes of this act shall include the annual premiumsurcharge for the health care stabilization fund.
History: L. 1968, ch. 287, § 2;L. 1986, ch. 179, § 1; April 24.
