State Codes and Statutes

Statutes > Kansas > Chapter40 > Article36 > Statutes_18119

40-3621

Chapter 40.--INSURANCE
Article 36.--IMPAIRED OR INSOLVENT INSURERS

      40-3621.   Liquidation of insurer; petition by commissioner; grounds.The commissioner may petition the district court of Shawneecountyfor an order directing the commissioner to liquidate a domestic insurer on thebasis:

      (a)   Of any grounds for an order of rehabilitation as specified in K.S.A.40-3616,whether or not there has been a prior order directing the rehabilitation of theinsurer;

      (b)   that the insurer is insolvent; or

      (c)   that the insurer is in such condition that the further transaction ofbusiness would be hazardous, financially or otherwise, to its policyholders,its creditors or the public.

      History:   L. 1991, ch. 125, § 17; July 1.

State Codes and Statutes

Statutes > Kansas > Chapter40 > Article36 > Statutes_18119

40-3621

Chapter 40.--INSURANCE
Article 36.--IMPAIRED OR INSOLVENT INSURERS

      40-3621.   Liquidation of insurer; petition by commissioner; grounds.The commissioner may petition the district court of Shawneecountyfor an order directing the commissioner to liquidate a domestic insurer on thebasis:

      (a)   Of any grounds for an order of rehabilitation as specified in K.S.A.40-3616,whether or not there has been a prior order directing the rehabilitation of theinsurer;

      (b)   that the insurer is insolvent; or

      (c)   that the insurer is in such condition that the further transaction ofbusiness would be hazardous, financially or otherwise, to its policyholders,its creditors or the public.

      History:   L. 1991, ch. 125, § 17; July 1.


State Codes and Statutes


Back To Homepage

State Codes and Statutes

Statutes > Kansas > Chapter40 > Article36 > Statutes_18119

40-3621

Chapter 40.--INSURANCE
Article 36.--IMPAIRED OR INSOLVENT INSURERS

      40-3621.   Liquidation of insurer; petition by commissioner; grounds.The commissioner may petition the district court of Shawneecountyfor an order directing the commissioner to liquidate a domestic insurer on thebasis:

      (a)   Of any grounds for an order of rehabilitation as specified in K.S.A.40-3616,whether or not there has been a prior order directing the rehabilitation of theinsurer;

      (b)   that the insurer is insolvent; or

      (c)   that the insurer is in such condition that the further transaction ofbusiness would be hazardous, financially or otherwise, to its policyholders,its creditors or the public.

      History:   L. 1991, ch. 125, § 17; July 1.


Disclaimer
There is no confidential attorney-client relationship formed by using Laws.com website and information provided on this site is not legal advice. For legal advice, please contact your attorney. Attorneys listed on this website are not referred or endorsed by this website. By using Laws.com you agree to Laws.com Terms Of Use.
Copyright © 2017 Laws.com | All rights reserved

Loading..

Close Window

Loading, Please Wait!

This may take a second or two.