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Terms Used In Kansas Statutes 40-3423

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Fund: means the healthcare stabilization fund established pursuant to Kan. See Kansas Statutes 40-3401

The health care stabilization fund may own or assign any annuity purchased by the fund pursuant to Kan. Stat. Ann. § 60-3407, 60-3409 or 60-3411 or pursuant to Kan. Stat. Ann. §§ 40-3410 and amendments thereto in settlements of the liability of the fund.