§ 40-401 Formation of company on stock or mutual plan; powers of companies; combination policies; specified disease and critical illness riders; organizational requirements; guaranty funds; deposits with joint custodians; withdrawals, when; paid-up capital stoc
§ 40-402 Paid-up capital stock, surplus; deposit of securities
§ 40-403b Same; foreign companies
§ 40-409 Valuation of policies; compensation of actuary; standard valuation law; commissioners’ reserve valuation method; lapse rates; aggregate reserves; calculations; Kansas companies doing business in another state; annual opinion by actuary on reserves; con
§ 40-410 Cancellation of policy for nonpayment of premiums; notice, when; policyowner defined
§ 40-411 Notice of intention to cancel policy for nonpayment of premium; time for payment
§ 40-412 When action to be maintained on insurance contract
§ 40-413 Death of beneficiary in policy; duties of insurance company
§ 40-414 Exemption of interests in policies; exceptions
§ 40-414a Trust provisions in contracts; restrictions on alienation; exemptions
§ 40-415 Insurance to go to estate of insured when beneficiary dies before insured
§ 40-416 Subsequent agreements
§ 40-417 Fraud and perjury; penalty
§ 40-418 Materiality of misrepresentation in obtaining policy
§ 40-419 Tender of premiums with defense of misrepresentation
§ 40-419a Refund upon cancellation of individual term policy; calculation
§ 40-420 Contents of insurance policy; exceptions
§ 40-420a Policy loan interest rates; purpose
§ 40-420b Same; definitions
§ 40-420c Same; methods to determine interest rates; definitions
§ 40-420d Same; applicability to policies
§ 40-421 Provisions insurance policy not to contain
§ 40-422 Industrial life insurance; definitions
§ 40-423 Same; contents of industrial life insurance policy; exceptions; surrender
§ 40-424 Same; designation of beneficiary; change of; payments
§ 40-425 Same; cash surrender value and value of stipulated form to be equal
§ 40-426 Same; commissioner may authorize policies more favorable
§ 40-427 Nonforfeiture benefits and cash surrender values in life policies issued prior to the operative date of K.S.A. 40-428
§ 40-428 Standard nonforfeiture law
§ 40-429 Loan provisions in policies
§ 40-431 Definition of due date for the payment of premiums and of when premium in default
§ 40-432 Invalidity of part
§ 40-433 Group life insurance; types of policies and requirements
§ 40-433a Same; provision granting employee right of assignment of benefits
§ 40-434 Same; policy provisions required
§ 40-435 Same; conversion privileges; notice
§ 40-436 Establishment of separate accounts; investment and handling; contracts for benefits in variable amounts; limitation and regulation of issuance; authority of commissioner; rules and regulations
§ 40-437 Same; application of other laws; variable life contracts, provisions required; reserve liability requirements
§ 40-438 Same; severability
§ 40-439 Assignment of rights and privileges under life and accident and health insurance policies
§ 40-440 Same; act acknowledges existing right of assignment
§ 40-441 Designation of trustee under will as beneficiary of life insurance policy
§ 40-442 Issuance of life insurance policy; filing of form prior to issuance
§ 40-443 Same; approval of commissioner
§ 40-444 Same; disapproval of policy form; notice, requirements; hearing
§ 40-445 Same; withdrawal of approval; notice and hearing; unlawful for insurer to issue or use such form
§ 40-447 Payment of life insurance proceeds; interest required to be paid, when
§ 40-448 Transfer of domicile of domestic company; approval of commissioner; admittance as foreign insurer; deposit of securities; certificate of secretary of state; continuation of existing authority and policies; nonrecognition of transfer for certain purpose
§ 40-449 Policies covering debtors, replacement by creditor; limitation on contestation
§ 40-450 Life insurance; insurable interests; assignments to charitable, benevolent, educational and religious institutions
§ 40-451 Coverage temporarily effective, when; written receipt for premium may exclude, void or limit coverage; refund of unearned premium
§ 40-452 Life insurance; employer’s insurable interest in employees; when
§ 40-453 Life insurance; insurable interest
§ 40-461 Structured settlement protection act; definitions
§ 40-462 Same; disclosure statement, contents
§ 40-463 Same; approval of transfer; required findings
§ 40-464 Same; discharge of structured settlement obligor and annuity issuer, when; liability of transferee
§ 40-465 Same; application for approval of transfer of structured settlement payment rights; procedure
§ 40-466 Same; limitations on provisions of transfer agreement
§ 40-467 Same; citation of act; applicability to workers compensation
§ 40-4,101 Standard nonforfeiture law for individual deferred annuities; citation of act
§ 40-4,102 Same; application
§ 40-4,103 Same; nonforfeiture requirements
§ 40-4,104 Same; minimum values; rules and regulations
§ 40-4,105 Same; computation of present value
§ 40-4,106 Same; calculation of cash surrender value
§ 40-4,107 Same; calculation of paid-up annuity benefits
§ 40-4,108 Same; maturity date
§ 40-4,109 Same; disclosure of death benefits
§ 40-4,110 Same; inclusion of lapse of time considerations
§ 40-4,111 Same; proration of values; additional benefits
§ 40-4,112 Same; rules and regulations
§ 40-4,113 Same; effective date
§ 40-4,201 Unclaimed life insurance benefits act; citation
§ 40-4,202 Same; definitions
§ 40-4,203 Same; comparison to death master file; determination of beneficiaries, process; escheat to state, when
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Terms Used In Kansas Statutes > Chapter 40 > Article 4 - General Provisions Relating to Life Insurance Companies

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • 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.
  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • 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.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Dependent: A person dependent for support upon another.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fraud: Intentional deception resulting in injury to another.
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • industrial life insurance: means either that form of life insurance under which the premiums are payable weekly, or that under which the premiums are payable monthly or oftener if the face amount of insurance provided in the policy is less than one thousand dollars and the words "industrial policy" are printed in prominent type on the face of the policy. See Kansas Statutes 40-422
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Minor: means any person defined by Kan. See Kansas Statutes 77-201
  • Month: means a calendar month, unless otherwise expressed. See Kansas Statutes 77-201
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • 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.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Property: includes personal and real property. See Kansas Statutes 77-201
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • Testator: A male person who leaves a will at death.
  • Testify: Answer questions in court.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.