§ 40-1601 Exchange contracts authorized
§ 40-1602 Execution of contracts by attorney-in-fact
§ 40-1603 Domestic reciprocal; attorney-in-fact; declarations
§ 40-1604 Statements filed by attorney-in-fact with commissioner; amount of indemnity
§ 40-1605 Maintenance of unearned premiums and reserves; surplus funds; conditions
§ 40-1606 Advancements to company; conditions
§ 40-1607 Service of process upon commissioner; fee; suits by and against subscribers
§ 40-1608 Bond of attorney and employees
§ 40-1609 Power of corporation to exchange contracts
§ 40-1610 Certificate of authority; revocation or suspension
§ 40-1611 Levies and taxes on premiums; payment; deductions
§ 40-1612 Certain provisions of code to reciprocals
§ 40-1613 Authority to write fidelity and surety bonds; conditions
§ 40-1615 Merger of Armed Forces Cooperative Insuring Association with Armed Forces Insurance Exchange; definitions
§ 40-1616 Same; approval; assumption of policies and business by surviving entity
§ 40-1617 Same; merger agreement; approval; submission to insurance commissioner
§ 40-1618 Same; information required to be filed with insurance commissioner; notice and hearing on merger; approval, when; costs
§ 40-1619 Same; construction of act; exemption from certain provisions of law
§ 40-1620 Conversion of insurance company into insurance reciprocal; conversion plan requirements; approval; definitions
§ 40-1621 Same; hearing on conversion plan
§ 40-1622 Same; act supplemental to article 16
§ 40-1623 Definitions
§ 40-1624 Reciprocal; business name
§ 40-1625 Reciprocal; board of directors; requirements on; powers and duties
§ 40-1626 Subscriber’s agreement; requirements
§ 40-1627 Modification of power of attorney; filing requirements
§ 40-1628 Reciprocal; return of savings to subscriber accounts
§ 40-1629 Domestic reciprocal; liquidation; requirements on
§ 40-1630 Reciprocal; assessable insurance policies, prohibition against issuance
§ 40-1631 Conversion of reciprocal to a mutual insurance company; conversion plan requirements; approval; definitions
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Terms Used In Kansas Statutes > Chapter 40 > Article 16 - Reciprocal or Interinsurance Contracts

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Armed Forces Cooperative Insuring Association: means the association organized as an unincorporated cooperative association operating within the federal enclave of Ft. See Kansas Statutes 40-1615
  • Armed Forces Insurance Corporation: means the attorney-in-fact for Armed Forces Insurance Exchange, incorporated under the laws of the state of Kansas. See Kansas Statutes 40-1615
  • Armed Forces Insurance Exchange: means the unincorporated reciprocal exchange operating in Leavenworth, Kansas, under the laws of the state of Kansas. See Kansas Statutes 40-1615
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Attorney-in-fact: means the person designated and authorized by subscribers as having authority to obligate them on reciprocal insurance contracts. See Kansas Statutes 40-1623
  • Commissioner: means the commissioner of insurance. See Kansas Statutes 40-1623
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Insurance entity: means the Armed Forces Cooperative Insuring Association or Armed Forces Insurance Exchange, or both. See Kansas Statutes 40-1615
  • Merger: means the union of two or more insurance entities into a single insurance entity which is one of the insurance entities uniting. See Kansas Statutes 40-1615
  • Oath: A promise to tell the truth.
  • Oath: includes an affirmation in all cases where an affirmation may be substituted for an oath, and in similar cases "swear" includes affirm. See Kansas Statutes 77-201
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds-type of organization, organization, cooperative, partnership, receiver, trustee or society, with power to enter into contractual undertakings within or without the state. See Kansas Statutes 40-1623
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Quorum: The number of legislators that must be present to do business.
  • Reciprocal: means an aggregation of subscribers under a common name. See Kansas Statutes 40-1623
  • Reciprocal insurance: means insurance resulting from the mutual exchange of insurance contracts among persons in an unincorporated association under a common name through an attorney-in-fact having authority to obligate each person both as insured and insurer. See Kansas Statutes 40-1623
  • Service of process: The service of writs or summonses to the appropriate party.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
  • Subscriber: means a person obligated under a reciprocal insurance agreement. See Kansas Statutes 40-1623
  • Trustee: A person or institution holding and administering property in trust.