40-806. Continued transactions by burial insurance corporations engaging in business on January 1, 1961; conditions; limitation on risks.
40-806
40-806. Continued transactions by burial insurance corporations engagingin business on January 1, 1961; conditions; limitation on risks.Any corporation already organized under the laws of this state andtransacting the business of burial insurance on January 1, 1961, maycontinue the transaction of such business as provided by the laws ofthis state prior to the effective date of this act, except that such corporationmay write burial insurance in an amount not exceeding three thousand dollars($3,000) on any one life.If and when such a corporation alters its capital structure it must thencomply with all of the requirements relating to capital stock lifeinsurance companies organized under other provisions of the insurancecode of the state of Kansas.
History: L. 1961, ch. 234, § 1; L. 1979, ch. 140, § 1; July 1.