Kansas Statutes 74-4720. Same; buildings authorized to be excluded from coverage
Terms Used In Kansas Statutes 74-4720
- Committee: means the committee on surety bonds and insurance. See Kansas Statutes 74-4717
- Department: means the department of administration. See Kansas Statutes 74-4717
- Insurance: means and includes every type of insurance on property. See Kansas Statutes 74-4701
- State agency: means any state office or officer, department, board, commission, institution, bureau or any agency, division or unit within any office, department, board, or other state authority. See Kansas Statutes 74-4701
The insurance policy purchased under Kan. Stat. Ann. § 74-4718 shall not be required to insure the following:
(a) Buildings upon which there is an existing policy of insurance which is determined by the committee to be adequate, unless the state agency owning or being responsible for a building requests the committee to include any such building or buildings in the coverage of such policy.
(b) Buildings which are currently insured in compliance with a bond covenant, unless the covenant authorizes, or is amended to authorize, such alternative coverage as is provided by the policy purchased under Kan. Stat. Ann. § 74-4718.
(c) Buildings which are determined by the committee to require coverage different from that which the insurance policy obtained under Kan. Stat. Ann. § 74-4718 will provide.
(d) Buildings the department determines it is not advisable to insure.