§ 40-37a01 Citation of act
§ 40-37a02 Definitions
§ 40-37a03 Application of act; application of insurance holding company act
§ 40-37a04 Written contract between controlling producer and controlled insurer required, minimum provisions; directors’ audit committee, review of insurer’s loss reserves; loss and commissions information report to commissioner; application of requirements
§ 40-37a05 Disclosure of producer-insurer relationship to insured
§ 40-37a06 Failure to comply with law, remedies for benefit of insurer; rights of policyholders, claimants, creditors and other third parties unaffected
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Terms Used In Kansas Statutes > Chapter 40 > Article 37a - Regulation of Broker Controlled Insurers

  • Accredited state: means a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established from time to time by the national association of insurance commissioners. See Kansas Statutes 40-37a02
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • controlled: has the meaning ascribed in subsection (c) of Kan. See Kansas Statutes 40-37a02
  • Controlled insurer: means a licensed insurer which is controlled, directly or indirectly by a producer. See Kansas Statutes 40-37a02
  • Controlling producer: means a producer who, directly or indirectly, controls an insurer. See Kansas Statutes 40-37a02
  • 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.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fiduciary: A trustee, executor, or administrator.
  • insurer: means any person, firm, association or corporation duly licensed to transact a property or casualty insurance business in this state. See Kansas Statutes 40-37a02
  • Producer: has the meaning ascribed to it in Kan. See Kansas Statutes 40-37a02
  • Property: includes personal and real property. See Kansas Statutes 77-201
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201