40-3638. Same; claims which may be allowed; limitations.
40-3638
40-3638. Same; claims which may be allowed; limitations.(a) The claim of a third party which is contingent only on firstobtaining a judgment against the insured shall be considered and allowed as ifthere were no such contingency.
(b) A claim may be allowed even if contingent, if it is filed in accordancewith K.S.A. 40-3636. It may be allowed and may participate in alldistributionsdeclared after it is filed to the extent that it does not prejudice the orderlyadministration of the liquidation.
(c) Claims that are due except for the passage of time shall be treated asabsolute claims are treated, except such claims may be discounted at thelegal rate of interest.
(d) Claims made under employment contracts by directors, principal officers,or persons in fact performing similar functions or having similar powers arelimited to payment for services rendered prior to the issuance of any order ofrehabilitation or liquidation under K.S.A. 40-3617 or 40-3622.
History: L. 1991, ch. 125, § 34; July 1.