Article 45.--REGULATION OF REINSURANCE INTERMEDIARIES
40-4503.Licensure of reinsurance brokers, managers and intermediaries,application fee; nonresidents, designation of agent for service of process;refund of commissioner to issue license; exemption for attorneys.(a) No person, firm, association or corporation shall act as areinsurance broker in this state if the reinsurance broker maintains an officeeither directly or as a member or employee of a firm or association, or as anofficer, director or employee of a corporation:
(1) In this state, unless such reinsurance broker is a licensed producer inthis state; or
(2) in another state, unless such reinsurance broker is a licensed producerin this state or another state having a law substantially similar to this actor such reinsurance broker is licensed in this state as a nonresidentreinsurance intermediary.
(b) No person, firm, association or corporation shall act as a reinsurancemanager:
(1) For a reinsurer domiciled in this state, unless such reinsurance manageris a licensed producer in this state;
(2) in this state, if the reinsurance manager maintains an office eitherdirectly or as a member or employee of a firm or association, or an officer,director or employee of a corporation in this state, unless such reinsurancemanager is a licensed producer in this state;
(3) in another state for a nondomestic insurer, unless such reinsurancemanager is a licensed producer in this state or another state having a lawsubstantially similar to this act or such person is licensed in this state as anonresident reinsurance intermediary.
(c) The commissioner may require a reinsurance manager subject to subsection(b) to file a bond in an amount from an insurer acceptable to thecommissionerfor the protection of each reinsurer represented.
(d) (1) The commissioner may issue a reinsurance intermediary license toany person, firm, association or corporation who has complied with therequirements of this act. Before any such license may be issued, the applicantshall submit proper application therefor on a form prescribed by thecommissioner which shall be accompanied by an initial fee of $150.Any license so issued shall remain in effect until suspended, revoked,voluntarily surrendered or otherwise terminated by the commissioner or licenseesubject to payment of an annual continuation fee of $100 on or before May 1 ofeach year. Any such license issued to a firm or association will authorize allthe members of such firm or association and any designated employees to act asreinsurance intermediaries under the license, and all such persons shall benamed in the application and any supplements thereto. Any such license issuedto a corporation shall authorize all of the officers, and any designatedemployees and directors thereof, to act as reinsurance intermediaries on behalfof such corporation, and all such persons shall be named in the application andany supplements thereto.
(2) If the applicant for a reinsurance intermediary license is anonresident, such applicant, as a condition precedent to receiving or holding alicense, shall designate the commissioner as agent for service of process inthe manner, and with the same legal effect, as is provided for by this act fordesignation of service of process upon insurers holding a Kansas certificate ofauthority. Such applicant shall furnish the commissioner with the name andaddress of a resident of this state upon whom notices or orders of thecommissioner or process affecting such nonresident reinsurance intermediary maybe served. Such licensee shall promptly notify the commissioner in writing ofevery change in its designated agent for service of process, and such changeshall not become effective until acknowledged by the commissioner.
(e) The commissioner may, after a hearing conducted in accordance with theprovisions of the Kansas administrative procedure act, held on not less than20 days notice, refuse to issue a reinsurance intermediary license if, in thejudgment of the commissioner, the applicant, any one named on the application,or any member, principal, officer or director of the applicant, is nottrustworthy, or any controlling person of such applicant is not trustworthy toact as a reinsurance intermediary, or any of the foregoing has given cause forrevocation or suspension of such license, or has failed to comply with anyprerequisite for the issuance of such license.
(f) Licensed attorneys at law in this state when acting in theirprofessional capacity as such shall be exempt from this section.
History: L. 1992, ch. 15, § 3;L. 2004, ch. 159, § 4; May 27.
Article 45.--REGULATION OF REINSURANCE INTERMEDIARIES
40-4503.Licensure of reinsurance brokers, managers and intermediaries,application fee; nonresidents, designation of agent for service of process;refund of commissioner to issue license; exemption for attorneys.(a) No person, firm, association or corporation shall act as areinsurance broker in this state if the reinsurance broker maintains an officeeither directly or as a member or employee of a firm or association, or as anofficer, director or employee of a corporation:
(1) In this state, unless such reinsurance broker is a licensed producer inthis state; or
(2) in another state, unless such reinsurance broker is a licensed producerin this state or another state having a law substantially similar to this actor such reinsurance broker is licensed in this state as a nonresidentreinsurance intermediary.
(b) No person, firm, association or corporation shall act as a reinsurancemanager:
(1) For a reinsurer domiciled in this state, unless such reinsurance manageris a licensed producer in this state;
(2) in this state, if the reinsurance manager maintains an office eitherdirectly or as a member or employee of a firm or association, or an officer,director or employee of a corporation in this state, unless such reinsurancemanager is a licensed producer in this state;
(3) in another state for a nondomestic insurer, unless such reinsurancemanager is a licensed producer in this state or another state having a lawsubstantially similar to this act or such person is licensed in this state as anonresident reinsurance intermediary.
(c) The commissioner may require a reinsurance manager subject to subsection(b) to file a bond in an amount from an insurer acceptable to thecommissionerfor the protection of each reinsurer represented.
(d) (1) The commissioner may issue a reinsurance intermediary license toany person, firm, association or corporation who has complied with therequirements of this act. Before any such license may be issued, the applicantshall submit proper application therefor on a form prescribed by thecommissioner which shall be accompanied by an initial fee of $150.Any license so issued shall remain in effect until suspended, revoked,voluntarily surrendered or otherwise terminated by the commissioner or licenseesubject to payment of an annual continuation fee of $100 on or before May 1 ofeach year. Any such license issued to a firm or association will authorize allthe members of such firm or association and any designated employees to act asreinsurance intermediaries under the license, and all such persons shall benamed in the application and any supplements thereto. Any such license issuedto a corporation shall authorize all of the officers, and any designatedemployees and directors thereof, to act as reinsurance intermediaries on behalfof such corporation, and all such persons shall be named in the application andany supplements thereto.
(2) If the applicant for a reinsurance intermediary license is anonresident, such applicant, as a condition precedent to receiving or holding alicense, shall designate the commissioner as agent for service of process inthe manner, and with the same legal effect, as is provided for by this act fordesignation of service of process upon insurers holding a Kansas certificate ofauthority. Such applicant shall furnish the commissioner with the name andaddress of a resident of this state upon whom notices or orders of thecommissioner or process affecting such nonresident reinsurance intermediary maybe served. Such licensee shall promptly notify the commissioner in writing ofevery change in its designated agent for service of process, and such changeshall not become effective until acknowledged by the commissioner.
(e) The commissioner may, after a hearing conducted in accordance with theprovisions of the Kansas administrative procedure act, held on not less than20 days notice, refuse to issue a reinsurance intermediary license if, in thejudgment of the commissioner, the applicant, any one named on the application,or any member, principal, officer or director of the applicant, is nottrustworthy, or any controlling person of such applicant is not trustworthy toact as a reinsurance intermediary, or any of the foregoing has given cause forrevocation or suspension of such license, or has failed to comply with anyprerequisite for the issuance of such license.
(f) Licensed attorneys at law in this state when acting in theirprofessional capacity as such shall be exempt from this section.
History: L. 1992, ch. 15, § 3;L. 2004, ch. 159, § 4; May 27.
Article 45.--REGULATION OF REINSURANCE INTERMEDIARIES
40-4503.Licensure of reinsurance brokers, managers and intermediaries,application fee; nonresidents, designation of agent for service of process;refund of commissioner to issue license; exemption for attorneys.(a) No person, firm, association or corporation shall act as areinsurance broker in this state if the reinsurance broker maintains an officeeither directly or as a member or employee of a firm or association, or as anofficer, director or employee of a corporation:
(1) In this state, unless such reinsurance broker is a licensed producer inthis state; or
(2) in another state, unless such reinsurance broker is a licensed producerin this state or another state having a law substantially similar to this actor such reinsurance broker is licensed in this state as a nonresidentreinsurance intermediary.
(b) No person, firm, association or corporation shall act as a reinsurancemanager:
(1) For a reinsurer domiciled in this state, unless such reinsurance manageris a licensed producer in this state;
(2) in this state, if the reinsurance manager maintains an office eitherdirectly or as a member or employee of a firm or association, or an officer,director or employee of a corporation in this state, unless such reinsurancemanager is a licensed producer in this state;
(3) in another state for a nondomestic insurer, unless such reinsurancemanager is a licensed producer in this state or another state having a lawsubstantially similar to this act or such person is licensed in this state as anonresident reinsurance intermediary.
(c) The commissioner may require a reinsurance manager subject to subsection(b) to file a bond in an amount from an insurer acceptable to thecommissionerfor the protection of each reinsurer represented.
(d) (1) The commissioner may issue a reinsurance intermediary license toany person, firm, association or corporation who has complied with therequirements of this act. Before any such license may be issued, the applicantshall submit proper application therefor on a form prescribed by thecommissioner which shall be accompanied by an initial fee of $150.Any license so issued shall remain in effect until suspended, revoked,voluntarily surrendered or otherwise terminated by the commissioner or licenseesubject to payment of an annual continuation fee of $100 on or before May 1 ofeach year. Any such license issued to a firm or association will authorize allthe members of such firm or association and any designated employees to act asreinsurance intermediaries under the license, and all such persons shall benamed in the application and any supplements thereto. Any such license issuedto a corporation shall authorize all of the officers, and any designatedemployees and directors thereof, to act as reinsurance intermediaries on behalfof such corporation, and all such persons shall be named in the application andany supplements thereto.
(2) If the applicant for a reinsurance intermediary license is anonresident, such applicant, as a condition precedent to receiving or holding alicense, shall designate the commissioner as agent for service of process inthe manner, and with the same legal effect, as is provided for by this act fordesignation of service of process upon insurers holding a Kansas certificate ofauthority. Such applicant shall furnish the commissioner with the name andaddress of a resident of this state upon whom notices or orders of thecommissioner or process affecting such nonresident reinsurance intermediary maybe served. Such licensee shall promptly notify the commissioner in writing ofevery change in its designated agent for service of process, and such changeshall not become effective until acknowledged by the commissioner.
(e) The commissioner may, after a hearing conducted in accordance with theprovisions of the Kansas administrative procedure act, held on not less than20 days notice, refuse to issue a reinsurance intermediary license if, in thejudgment of the commissioner, the applicant, any one named on the application,or any member, principal, officer or director of the applicant, is nottrustworthy, or any controlling person of such applicant is not trustworthy toact as a reinsurance intermediary, or any of the foregoing has given cause forrevocation or suspension of such license, or has failed to comply with anyprerequisite for the issuance of such license.
(f) Licensed attorneys at law in this state when acting in theirprofessional capacity as such shall be exempt from this section.
History: L. 1992, ch. 15, § 3;L. 2004, ch. 159, § 4; May 27.
