reglab/housing_qa huggingface dataset:
KS Stat § 40-463 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-463 Same; approval of transfer; required findings.

40-463. Same; approval of transfer; required findings. (a) No direct or indirect transfer of structured settlement payment rights shall be effective and no structured settlement obligor or annuity issuer shall be required to make any payment directly or indirectly to any transferee of structured settlement payment rights unless the transfer has been approved in advance in a final court order or order of a responsible administrative authority based on express findings by such court or responsible administrative authority that the:(1) Transfer is in the best interest of the payee, taking into account the welfare and support of the payee's dependents;(2) payee has been advised in writing by the transferee to seek independent professional advice regarding the transfer and has either received such advice or knowingly waived such advice in writing; and(3) transfer does not contravene any applicable statute or the order of any court or other government authority.History: L. 2005, ch. 57, § 3; July 1.
KS Stat § 40-464 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-464 Same; discharge of structured settlement obligor and annuity issuer, when; liability of transferee.

40-464. Same; discharge of structured settlement obligor and annuity issuer, when; liability of transferee. Following a transfer of structured settlement payment rights under this act: (a) The structured settlement obligor and the annuity issuer shall be discharged and released from any and all liability for the transferred payments as to all parties except the transferee.(b) The transferee shall be liable to the structured settlement obligor and the annuity issuer:(1) If the transfer contravenes the terms of the structured settlement, for any taxes incurred by such parties as a consequence of the transfer; and(2) for any other liabilities or costs, including reasonable costs and attorneys' fees, arising from compliance by such parties with the order of the court or responsible administrative authority or arising as a consequence of the transferee's failure to comply with this act.(c) Neither the annuity issuer nor the structured settlement obligor may be required to divide any periodic payment between the payee and any transferee or assignee or between two or more transferees or assignees.(d) Any further transfer of structured settlement payment rights by the payee may be made only after compliance with all of the requirements of this act.History: L. 2005, ch. 57, § 4; July 1.
KS Stat § 40-465 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-465 Same; application for approval of transfer of structured settlement payment rights; procedure.

40-465. Same; application for approval of transfer of structured settlement payment rights; procedure. (a) An application for approval of a transfer of structured settlement payment rights shall be made by the transferee and may be brought in:(1) The county in which the payee resides;(2) the county in which the structured settlement obligor or the annuity issuer maintains its principal place of business; or(3) any court or before any responsible administrative authority which approved the structured settlement agreement.(b) The transferee shall file with the court or responsible administrative authority and serve on all interested parties a notice of the proposed transfer and the application for its authorization not less than 20 days prior to the scheduled hearing on any application for approval of a transfer of structured settlement payment rights under K.S.A. 40-463, and amendments thereto. Such notice shall include:(1) A copy of the transferee's application;(2) a copy of the transfer agreement;(3) a copy of the disclosure statement required under K.S.A. 40-462, and amendments thereto;(4) a listing of each of the payee's dependents, together with each dependent's age;(5) notification that any interested party is entitled to support, oppose or otherwise respond to the transferee's application, either in person or by counsel, by submitting written comments to the court or responsible administrative authority or by participating in the hearing; and(6) notification of the time and place of the hearing and notification of the manner in which and the time, which shall not be less than 15 days after service of the transferee's notice, by which written responses to the application must be filed in order to be considered by the court or responsible administrative authority.History: L. 2005, ch. 57, § 5; July 1.
KS Stat § 40-466 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-466 Same; limitations on provisions of transfer agreement.

40-466. Same; limitations on provisions of transfer agreement. (a) The provisions of this act may not be waived by any payee.(b) Any transfer agreement entered into by a payee who resides in this state on or after the effective date of this act shall provide that disputes under such transfer agreement, including any claim that the payee has breached the agreement, shall be determined in and under the laws of this state. No such transfer agreement shall authorize the transferee or any other party to confess judgment or consent to entry of judgment against the payee.(c) No transfer of structured settlement payment rights shall extend to any payments that are life-contingent unless, prior to the date on which the payee signs the transfer agreement, the transferee has established and has agreed to maintain procedures reasonably satisfactory to the annuity issuer and the structured settlement obligor for:(1) Periodically confirming the payee's survival; and(2) giving the annuity issuer and the structured settlement obligor prompt written notice in the event of the payee's death.(d) No payee who proposes to make a transfer of structured settlement payment rights shall incur any penalty, forfeit any application fee or other payment, or otherwise incur any liability to the proposed transferee or any assignee based on any failure of such transfer to satisfy the conditions of this act.(e) No provision of this act shall be construed to authorize any transfer of structured settlement payment rights in contravention of any law or to imply the validity of any transfer under a transfer agreement entered into prior to the effective date of this act.(f) Compliance with the requirements of K.S.A. 40-462, and amendments thereto, and fulfillment of the conditions of K.S.A. 40-463, and amendments thereto, shall be solely the responsibility of the transferee in any transfer of structured settlement payment rights. Neither the structured settlement obligor nor the annuity issuer shall bear any responsibility for, or any liability arising from, non-compliance with such requirements or failure to fulfill such conditions.History: L. 2005, ch. 57, § 6; July 1.
KS Stat § 40-467 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-467 Same; citation of act; applicability to workers compensation.

40-467. Same; citation of act; applicability to workers compensation. (a) K.S.A. 40-461 through 40-467, and amendments thereto, shall be known as and may be cited as the structured settlement protection act.(b) No provision of this act shall apply to any settlement of any claim for or award of workers compensation.History: L. 2005, ch. 57, § 7; July 1.
KS Stat § 40-4,101 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-4,101 Standard nonforfeiture law for individual deferred annuities; citation of act.

40-4,101. Standard nonforfeiture law for individual deferred annuities; citation of act. (a) K.S.A. 40-4,101 through 40-4,113, and amendments thereto, shall be known as the standard nonforfeiture law for individual deferred annuities.(b) For the purposes of this act, the term "commissioner" shall mean the commissioner of insurance.History: L. 2004, ch. 18, § 1; July 1.
KS Stat § 40-4,102 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-4,102 Same; application.

40-4,102. Same; application. This act shall not apply to any reinsurance, group annuity purchased under a retirement plan or plan of deferred compensation established or maintained by an employer, including a partnership or sole proprietorship, or by an employee organization, or by both, other than a plan providing individual retirement accounts or individual retirement annuities under Section 408 of the federal internal revenue code, premium deposit fund, variable annuity, investment annuity, immediate annuity, any deferred annuity contract after annuity payments have commenced or reversionary annuity, nor to any contract which shall be delivered outside this state through an agent or other representative of the company issuing the contract.History: L. 2004, ch. 18, § 2; July 1.
KS Stat § 40-4,105 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-4,105 Same; computation of present value.

40-4,105. Same; computation of present value. Any paid-up annuity benefit available under an annuity contract shall be such that its present value on the date annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date. Present value shall be computed using the mortality table, if any, and the interest rates specified in the annuity contract for determining the minimum paid-up annuity benefits guaranteed in such annuity contract.History: L. 2004, ch. 18, § 5; July 1.
KS Stat § 40-4,106 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-4,106 Same; calculation of cash surrender value.

40-4,106. Same; calculation of cash surrender value. For annuity contracts that provide cash surrender benefits, the cash surrender benefits available prior to maturity shall not be less than the present value as of the date of surrender of that portion of the maturity value of the paid-up annuity benefit that would be provided under the contract at maturity arising from considerations paid prior to the time of cash surrender reduced by the amount appropriate to reflect any prior withdrawals from or partial surrenders of the contract, such present value being calculated on the basis of an interest rate not more than one percent higher than the interest rate specified in the contract for accumulating the net considerations to determine maturity value, decreased by the amount of any indebtedness to the company on the contract, including interest due and accrued, and increased by any existing additional amounts credited by the company to the annuity contract. In no event shall any cash surrender benefit be less than the minimum nonforfeiture amount at that time. The death benefit under such annuity contracts shall at least equal to the cash surrender benefit.History: L. 2004, ch. 18, § 6; July 1.
KS Stat § 40-4,107 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-4,107 Same; calculation of paid-up annuity benefits.

40-4,107. Same; calculation of paid-up annuity benefits. For annuity contracts that do not provide cash surrender benefits, the present value of any paid-up annuity benefit available as a nonforfeiture option at any time prior to maturity shall not be less than the present value of that portion of the maturity value of the paid-up annuity benefit provided under the annuity contract arising from considerations paid prior to the time the annuity contract is surrendered in exchange for, or changed to, a deferred paid-up annuity, such present value being calculated for the period prior to the maturity date on the basis of the interest rate specified in the annuity contract for accumulating the net considerations to determine maturity value, and increased by any additional amounts credited by the company to the annuity contract. For annuity contracts that do not provide any death benefits prior to the commencement of any annuity payments, present values shall be calculated on the basis of such interest rate and the mortality table specified in the contract for determining the maturity value of the paid-up annuity benefit. However, in no event shall the present value of a paid-up annuity benefit be less than the minimum nonforfeiture amount at that time.History: L. 2004, ch. 18, § 7; July 1.
KS Stat § 40-4,108 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-4,108 Same; maturity date.

40-4,108. Same; maturity date. For the purpose of determining the benefits calculated under K.S.A. 40-4,106 and 40-4,107, and amendments thereto, in the case of annuity contracts under which an election may be made to have annuity payments commence at optional maturity dates, the maturity date shall be deemed to be the latest date for which election shall be permitted by the annuity contract, but shall not be deemed to be later than the anniversary of such annuity contract next following the annuitant's 70th birthday or the 10th anniversary of such annuity contract, whichever is later.History: L. 2004, ch. 18, § 8; July 1.
KS Stat § 40-4,109 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-4,109 Same; disclosure of death benefits.

40-4,109. Same; disclosure of death benefits. Any annuity contract that does not provide cash surrender benefits or does not provide death benefits at least equal to the minimum nonforfeiture amount prior to the commencement of any annuity payments shall include a statement in a prominent place in such contract that such benefits are not provided.History: L. 2004, ch. 18, § 9; July 1.
KS Stat § 40-4,110 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-4,110 Same; inclusion of lapse of time considerations.

40-4,110. Same; inclusion of lapse of time considerations. Any paid-up annuity, cash surrender or death benefits available at any time, other than on the contract anniversary under any annuity contract with fixed scheduled considerations, shall be calculated with allowance for the lapse of time and the payment of any scheduled considerations beyond the beginning of the contract year in which cessation of payment of considerations under the annuity contract occurs.History: L. 2004, ch. 18, § 10; July 1.
KS Stat § 40-4,111 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-4,111 Same; proration of values; additional benefits.

40-4,111. Same; proration of values; additional benefits. For any annuity contract which provides, within the same contract by rider or supplemental contract provision, both annuity benefits and life insurance benefits that are in excess of the greater of cash surrender benefits or a return of the gross considerations with interest, the minimum nonforfeiture benefits shall be equal to the sum of the minimum nonforfeiture benefits for the annuity portion and the minimum nonforfeiture benefits, if any, for the life insurance portion computed as if each portion were a separate contract. Notwithstanding the provisions of K.S.A. 40-4,105, 40-4,106, 40-4,107, 40-4,108 and 40-4,110, and amendments thereto, additional benefits payable in the event of total and permanent disability, as reversionary annuity or deferred reversionary annuity benefits, or as other policy benefits additional to life insurance, endowment and annuity benefits, and considerations for all such additional benefits, shall be disregarded in ascertaining the minimum nonforfeiture amounts, paid-up annuity, cash surrender and death benefits that may be required by this act. The inclusion of such benefits shall not be required in any paid-up benefits, unless the additional benefits separately would require minimum nonforfeiture amounts, paid-up annuity, cash surrender and death benefits.History: L. 2004, ch. 18, § 11; July 1.
KS Stat § 40-4,112 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-4,112 Same; rules and regulations.

40-4,112. Same; rules and regulations. The commissioner may adopt rules and regulations reasonably necessary to implement the provisions of this act.History: L. 2004, ch. 18, § 12; July 1.
KS Stat § 40-4,113 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-4,113 Same; effective date.

40-4,113. Same; effective date. (a) After the effective date of this act, a company may elect to apply its provisions to annuity contracts on a contract form-by-contract form basis before the second anniversary of the effective date of this act.(b) In all other instances, this act shall become operative with respect to all annuity contracts issued by the company on or after the second anniversary of this act.History: L. 2004, ch. 18, § 13; July 1.
KS Stat § 40-4,201 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-4,201 Unclaimed life insurance benefits act; citation.

40-4,201. Unclaimed life insurance benefits act; citation. On and after July 1, 2019, the provisions of K.S.A. 40-4,201 through 40-4,203, and amendments thereto, shall be known and may be cited as the unclaimed life insurance benefits act.History: L. 2019, ch. 54, § 1; May 9.
KS Stat § 40-4,202 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 4 - General Provisions Relating To Life Insurance Companies|40-4,202 Same; definitions.

40-4,202. Same; definitions. As used in the unclaimed life insurance benefits act:(a) "Contract" means an annuity contract. The term "contract" shall not include an annuity used to fund an employment-based retirement plan or program where: (1) The insurer does not perform the record-keeping services; or (2) the insurer is not committed by terms of the annuity contract to pay death benefits to the beneficiaries of specific plan participants.(b) "Death master file" means the United States social security administration's death master file or any other database or service that is at least as comprehensive as the United States social security administration's death master file for determining that a person has reportedly died.(c) "Death master file match" means a search of the death master file that results in a match of the social security number or the name and date of birth of an insured, annuity owner or retained asset account holder.(d) "Knowledge of death" means: (1) Receipt of an original or valid copy of a certified death certificate; or (2) a death master file match validated by the insurer in accordance with K.S.A. 40-4,203(a), and amendments thereto.(e) "Policy" means any policy or certificate of life insurance that provides a death benefit. The term "policy" shall not include: (1) Any policy or certificate of life insurance that provides a death benefit under an employee benefit plan: (A) Subject to the employee retirement income security act of 1974 (29 U.S.C. § 1002); or (B) under any federal employee benefit program; (2) any policy or certificate of life insurance that is used to fund a preneed funeral contract or prearrangement; (3) any policy or certificate of credit life or accidental death insurance; or (4) any policy issued to a group master policyholder for which the insurer does not provide record keeping services.(f) "Record keeping services" means those circumstances under which the insurer has agreed with a group policy or contract customer to be responsible for obtaining, maintaining and administering in its own or its agents' systems information about each individual insured under an insured's group insurance contract, or a line of coverage thereunder, at least the following information: (1) Social security number or name and date of birth; (2) beneficiary designation information; (3) coverage eligibility; (4) benefit amount; and (5) premium payment status.(g) "Retained asset account" means any mechanism whereby the settlement of proceeds payable under a policy or contract is accomplished by the insurer or an entity acting on behalf of the insurer depositing the proceeds into an account with check or draft writing privileges, where those proceeds are retained by the insurer or its agent, pursuant to a supplementary contract not involving annuity benefits other than death benefits.(h) The provisions of this section shall take effect on and after July 1, 2019.History: L. 2019, ch. 54, § 2; May 9.
KS Stat § 40-501 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 5 - Mutual Life Insurance Companies|40-501 Formation.

40-501. Formation. Mutual life insurance companies may be organized as provided in section 40-401 of this code for the purposes therein specified.History: L. 1927, ch. 231, 40-501; June 1.
KS Stat § 40-502 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 5 - Mutual Life Insurance Companies|40-502 Directors and officers; vacancies; elections.

40-502. Directors and officers; vacancies; elections. (a) The affairs of any mutual life insurance company now existing or hereafter organized under the laws of this state shall be managed by a board of not more than 25 nor less than five directors. Any vacancy in the board shall be filled by the remaining members until the next annual meeting of the policyholders, at which time a successor shall be elected to fill the unexpired term.(b) The director shall be elected by ballot, and each person who is a policyholder shall be entitled to one vote. Policyholders may vote by proxy, signed by the person legally entitled to vote the same. Each policyholder shall have the right to cast as many votes in the aggregate as shall equal the number of directors to be regularly elected, and each policyholder, in person or by proxy, may cast the whole number of votes for one candidate or may divide such policyholder's votes among two or more candidates. A majority of the number of directors shall constitute a quorum for the transaction of business.(c) Every mutual life insurance company, now existing or hereafter organized under the laws of this state, shall have such officers with such titles and duties as shall be stated in the bylaws or in a resolution of the board of directors which is not inconsistent with the bylaws.(d) Officers shall be chosen in such manner and shall hold their offices for such terms as are prescribed by the bylaws or determined by the board of directors or other governing body.History: L. 1927, ch. 231, 40-502; L. 2005, ch. 41, § 3; L. 2007, ch. 30, § 1; July 1.
KS Stat § 40-503 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 5 - Mutual Life Insurance Companies|40-503 Seal; bylaws.

40-503. Seal; bylaws. The board of directors of any mutual life insurance company shall have power to adopt a seal and make such bylaws and amendments thereto, not inconsistent with the constitution and laws of this state, as may be deemed necessary for the regulation and management of its affairs.History: L. 1927, ch. 231, 40-503; June 1.