Kansas Statutes 40-2904. Same; creation of nonprofit association, membership; functions
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Terms Used In Kansas Statutes 40-2904
- Association: means the Kansas insurance guaranty association created by this act. See Kansas Statutes 40-2903
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
There is created a nonprofit unincorporated legal entity to be known as the Kansas insurance guaranty association. All insurers defined as member insurers in Kan. Stat. Ann. § 40-2903(e) shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under Kan. Stat. Ann. §§ 40-2907 and shall exercise its powers through a board of directors established under Kan. Stat. Ann. § 40-2905.