Kansas Statutes 40-755. Annual statement to include valuation of certificates in force; certification or verification of actuary
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Terms Used In Kansas Statutes 40-755
- Commissioner: means the commissioner of insurance of this state. See Kansas Statutes 40-741
- Society: means fraternal benefit society, unless otherwise indicated. See Kansas Statutes 40-741
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
As part of the annual statement herein required, each society shall, on or before the first day of March, file with the commissioner of insurance a valuation of its certificates in force on December 31 last preceding, providing the commissioner of insurance may, in the exercise of discretion for cause shown, extend the time for filing such valuation for not more than two calendar months. Such valuation shall be done in accordance with the standards specified in Kan. Stat. Ann. § 40-754. Such valuation and underlying data shall be certified by a qualified actuary or, at the expense of the society, verified by the actuary of the department of insurance of the state of domicile of the society.