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Statutes > Kansas > Chapter40 > Article35 > Statutes_18085

40-3507

Chapter 40.--INSURANCE Article 35.--MORTGAGE GUARANTY INSURANCE COMPANIES

40-3507. Investments; prohibitions.A mortgage guaranty insurance company shall not invest in notes or otherevidences of indebtedness secured by mortgage or other lien uponreal property. This section shall not apply to obligations secured by realproperty, which obligations or contracts of sale are acquired in the courseof the good faith settlement of claims under policies of insurance issuedby the mortgage guaranty insurance company, or in the good faith dispositionof real property so acquired.

History: L. 1977, ch. 154, § 7; Jan. 1, 1978.

State Codes and Statutes

Statutes > Kansas > Chapter40 > Article35 > Statutes_18085

40-3507

Chapter 40.--INSURANCE Article 35.--MORTGAGE GUARANTY INSURANCE COMPANIES

40-3507. Investments; prohibitions.A mortgage guaranty insurance company shall not invest in notes or otherevidences of indebtedness secured by mortgage or other lien uponreal property. This section shall not apply to obligations secured by realproperty, which obligations or contracts of sale are acquired in the courseof the good faith settlement of claims under policies of insurance issuedby the mortgage guaranty insurance company, or in the good faith dispositionof real property so acquired.

History: L. 1977, ch. 154, § 7; Jan. 1, 1978.

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State Codes and Statutes

Statutes > Kansas > Chapter40 > Article35 > Statutes_18085

40-3507

Chapter 40.--INSURANCE Article 35.--MORTGAGE GUARANTY INSURANCE COMPANIES

40-3507. Investments; prohibitions.A mortgage guaranty insurance company shall not invest in notes or otherevidences of indebtedness secured by mortgage or other lien uponreal property. This section shall not apply to obligations secured by realproperty, which obligations or contracts of sale are acquired in the courseof the good faith settlement of claims under policies of insurance issuedby the mortgage guaranty insurance company, or in the good faith dispositionof real property so acquired.

History: L. 1977, ch. 154, § 7; Jan. 1, 1978.