Terms Used In Kansas Statutes > Chapter 40 > Article 49 - Uniform Insurance Agents Licensing Act

• agent: include an "insurance producer" or "producer" when the context so requires. See Kansas Statutes 40-4902
• 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.
• approved course: means any educational presentation involving insurance fundamentals, insurance law, insurance policies and coverage, insurance needs, insurance risk management, insurance agency management or other areas, which is offered in a class, seminar, computer based training, interactive internet training or other similar form of instruction, and that has been approved by the commissioner under this act as expanding skills and knowledge obtained prior to initial licensure under this act or developing new and relevant skills and knowledge in preparation for such licensure. See Kansas Statutes 40-4902
• Arrest: Taking physical custody of a person by lawful authority.
• Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
• Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
• Biennial due date: means the last day of the birth month of any licensed insurance agent who is required to complete C. See Kansas Statutes 40-4902
• Biennium: means the period starting with the insurance agent's biennial due date in 2001 and each two-year period thereafter for any insurance agent who was born in an odd-numbered year. See Kansas Statutes 40-4902
• Broker: means any individual who acts or aids in any manner in negotiating contracts of insurance, or in placing risks or in soliciting or effecting contracts of insurance as an agent for an insured other than such individual and not as an agent of an insurance company or any other type of insurance carrier. See Kansas Statutes 40-4902
• Business entity: means any corporation, association, partnership, limited liability company, limited liability partnership or other legal entity. See Kansas Statutes 40-4902
• Commissioner: means the commissioner of insurance as defined in Kan. See Kansas Statutes 40-4902
• 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.
• Department: means the insurance department established by Kan. See Kansas Statutes 40-4902
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• 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.
• Home state: means the District of Columbia and any state or territory of the United States in which an insurance agent maintains such agent's principal place of residence or principal place of business and is licensed to act as an insurance agent. See Kansas Statutes 40-4902
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insurance: means any of the lines of authority specified in Kan. See Kansas Statutes 40-4902
• insurance company: means the same as "insurance company" as defined by Kan. See Kansas Statutes 40-4902
• 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.
• License: means a document issued by the commissioner authorizing a person to act as an insurance agent for the lines of authority specified in such document. See Kansas Statutes 40-4902
• Limited line credit insurance: includes credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, automobile dealer gap insurance and any other form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing that credit obligation that the insurance commissioner determines should be designated a form of limited line credit insurance. See Kansas Statutes 40-4902
• 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
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• NAIC: means the national association of insurance commissioners. See Kansas Statutes 40-4902
• Negotiate: means the act of conferring directly with or offering advice directly to any purchaser or prospective purchaser of a particular contract of insurance concerning any of the substantive benefits, terms or conditions of such contract, provided that the person engaged in such act either sells insurance or obtains insurance from insurers for purchasers. See Kansas Statutes 40-4902
• 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.
• 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 an individual or a business entity. See Kansas Statutes 40-4902
• producer: includes "agent. See Kansas Statutes 40-4902
• 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.
• Residence: means the place which is adopted by a person as the person's place of habitation and to which, whenever the person is absent, the person has the intention of returning. See Kansas Statutes 77-201
• Sell: means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company. See Kansas Statutes 40-4902
• Solicit: includes any attempt to sell insurance or asking or urging a person to apply for any particular kind of insurance from any particular insurance company. See Kansas Statutes 40-4902
• State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
• Subpoena: A command to a witness to appear and give testimony.
• Testify: Answer questions in court.
• Trustee: A person or institution holding and administering property in trust.