40-3623.Same; continuation of insurance policies in effect at time oforder of liquidation.(a) All policies, other than life or health insurance orannuities, in effect at the time of issuance of an order of liquidation shallcontinue in force only for the lesser of:
(1) A period of 30 days from the date of entry of the liquidation orders;
(2) the expiration of the policy coverage;
(3) the date when the insured has replaced the insurance coverage withequivalent insurance in another insurer or otherwise terminated the policy; or
(4) the liquidator has effected a transfer of the policy obligation pursuantto K.S.A. 40-3625(a)(9).
(b) An order or liquidation under K.S.A. 40-3622 shall terminatecoverages atthe time specified in subsection (a) for purposes of any other statute.
(c) Policies of life or health insurance or annuities shall continue inforce for such period and under such terms as is provided for by any applicableguaranty association or foreign guaranty association.
(d) Policies of life or health insurance or annuities or any period orcoverage of such policies not covered by a guaranty association or foreignguaranty association shall terminate under subsections (a) and (b).
40-3623.Same; continuation of insurance policies in effect at time oforder of liquidation.(a) All policies, other than life or health insurance orannuities, in effect at the time of issuance of an order of liquidation shallcontinue in force only for the lesser of:
(1) A period of 30 days from the date of entry of the liquidation orders;
(2) the expiration of the policy coverage;
(3) the date when the insured has replaced the insurance coverage withequivalent insurance in another insurer or otherwise terminated the policy; or
(4) the liquidator has effected a transfer of the policy obligation pursuantto K.S.A. 40-3625(a)(9).
(b) An order or liquidation under K.S.A. 40-3622 shall terminatecoverages atthe time specified in subsection (a) for purposes of any other statute.
(c) Policies of life or health insurance or annuities shall continue inforce for such period and under such terms as is provided for by any applicableguaranty association or foreign guaranty association.
(d) Policies of life or health insurance or annuities or any period orcoverage of such policies not covered by a guaranty association or foreignguaranty association shall terminate under subsections (a) and (b).
40-3623.Same; continuation of insurance policies in effect at time oforder of liquidation.(a) All policies, other than life or health insurance orannuities, in effect at the time of issuance of an order of liquidation shallcontinue in force only for the lesser of:
(1) A period of 30 days from the date of entry of the liquidation orders;
(2) the expiration of the policy coverage;
(3) the date when the insured has replaced the insurance coverage withequivalent insurance in another insurer or otherwise terminated the policy; or
(4) the liquidator has effected a transfer of the policy obligation pursuantto K.S.A. 40-3625(a)(9).
(b) An order or liquidation under K.S.A. 40-3622 shall terminatecoverages atthe time specified in subsection (a) for purposes of any other statute.
(c) Policies of life or health insurance or annuities shall continue inforce for such period and under such terms as is provided for by any applicableguaranty association or foreign guaranty association.
(d) Policies of life or health insurance or annuities or any period orcoverage of such policies not covered by a guaranty association or foreignguaranty association shall terminate under subsections (a) and (b).
