40-1105. Revocation of certificate of authority, when.

40-1105

Chapter 40.--INSURANCE Article 11.--GENERAL PROVISIONS RELATIVE TO CASUALTY, SURETY AND FIDELITY COMPANIES

      40-1105.   Revocation of certificate of authority, when.Whenever the surplus of any domestic or foreign insurance companyauthorized to transact any of the kinds or classes of business specified insection 40-1102 of this article shall be less than the minimum surplusrequired by law, the commissioner of insurance shall revoke the certificateof authority of such corporation to do business, in accordance with thehearing provisions set forth in K.S.A. 40-222.

      History:   L. 1927, ch. 231, 40-1105; L. 1967, ch. 265, § 1; July 1.