reglab/housing_qa huggingface dataset:
KS Stat § 40-2905 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 29 - Kansas Insurance Guaranty Association Act|40-2905 Board of directors; selection; vacancies; expenses.

40-2905. Board of directors; selection; vacancies; expenses. (a) The board of directors of the association shall consist of nine (9) persons, of which three (3) members shall serve terms of one (1) year; three (3) members shall serve terms of two (2) years; and, three (3) members shall serve terms of three (3) years. The members of the board shall be selected by member insurers subject to the approval of the commissioner. The successor of each member serving on the board on July 1, 1976, shall be selected to serve for a term of three (3) years. Vacancies on the board shall be filled for the remaining period of the term in the same manner as initial appointments. If no members are selected within sixty (60) days after the effective date of this act, the commissioner may appoint the initial members of the board of directors.(b) In approving selections to the board, the commissioner shall consider among other things whether all member insurers are fairly represented.(c) Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board of directors.History: L. 1970, ch. 185, § 5; L. 1976, ch. 220, § 1; April 2.
KS Stat § 40-2906a (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 29 - Kansas Insurance Guaranty Association Act|40-2906a Certificate of contribution as asset of insurer; offset against premium tax liability.

40-2906a. Certificate of contribution as asset of insurer; offset against premium tax liability. (a) Unless a longer period has been allowed by the commissioner, a member insurer shall at its option have the right to show a certificate of contribution as an asset in the form approved by the commissioner pursuant to subsection (c) of K.S.A. 40-2906, and amendments thereto, at percentages of the original face amount approved by the commissioner, for calendar years as follows:(1) One hundred percent for the calendar year of issuance;(2) eighty percent for the first calendar year after the year of issuance;(3) sixty percent for the second calendar year after the year of issuance;(4) forty percent for the third calendar year after the year of issuance; and(5) twenty percent for the fourth calendar year after the year of issuance.(b) The insurer may offset the amount written off by it in a calendar year under subsection (a) against its premium tax liability to this state accrued with respect to business transacted in such year.(c) Any sums acquired by refund pursuant to subsection (b) of K.S.A. 40-2906, and amendments thereto, from the association which have theretofore been written off by contributing insurers and offset against premium taxes as provided in subsection (b) of this section, and is not then needed for purposes of this act, shall be paid by the association to the commissioner to be remitted by the commissioner to the state treasurer in accordance with the provisions of K.S.A. 75-4215, and amendments thereto. Upon receipt of each such remittance, the state treasurer shall deposit the entire amount in the state treasury to the credit of the state general fund.(d) The provisions of K.S.A. 40-2914, and amendments thereto, shall not apply to amounts written off under subsection (a) of this section.History: L. 1976, ch. 220, § 3; L. 2001, ch. 5, § 121; July 1.
KS Stat § 40-2908 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 29 - Kansas Insurance Guaranty Association Act|40-2908 Same; powers and duties of commissioner.

40-2908. Same; powers and duties of commissioner. (a) The commissioner shall:(1) Notify the association of the existence of an insolvent insurer not later than three regular business days after the commissioner receives notice of the determination of the insolvency.(2) Upon request of the board of directors, provide the association with a statement of the net direct written premiums of each member insurer.(b) The commissioner may:(1) Require that the association notify the insureds of the insolvent insurer and any other interested party of the determination of insolvency and of their rights under this act. Such notification shall be by mail at the insurer's or interested party's last known address, where available, but if sufficient information for notification by mail is not available, notice by publication in a newspaper of general circulation shall be sufficient.(2) Suspend or revoke, pursuant to the provisions of K.S.A. 40-223, and amendments thereto, the certificate of authority to transact insurance in this state of any member insurer which fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative, the commissioner may levy a fine on any member insurer which fails to pay an assessment when due. Such fine shall not exceed 5% of the unpaid assessment per month, except that no fine shall be less than $100 per month.(3) Revoke the designation of any servicing facility if the commissioner finds claims are being handled unsatisfactorily.History: L. 1970, ch. 185, § 8; L. 1986, ch. 318, § 41; July 1.
KS Stat § 40-2909 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 29 - Kansas Insurance Guaranty Association Act|40-2909 Same; assignment of rights to association upon recovery under act; cooperation; actions against insurer; claims against insolvent insurer.

40-2909. Same; assignment of rights to association upon recovery under act; cooperation; actions against insurer; claims against insolvent insurer. (a) Any person recovering under this act shall be deemed to have assigned his rights under the policy to the association to the extent of his recovery from the association. Every insured or claimant seeking the protection of this act shall cooperate with the association to the same extent as such person would have been required to cooperate with the insolvent insurer. The association shall have no cause of action against the insured of the insolvent insurer for any sums it has paid out, except such causes of action as the insolvent insurer would have had if such sums had been paid out by the insolvent insurer. In the case of an insolvent insurer operating on a plan with assessment liability, payments of claims of the association shall not operate to reduce the liability of insureds to the receiver, liquidator, or statutory successor for unpaid assessments.(b) The receiver, liquidator or statutory successor of an insolvent insurer shall be bound by settlements of covered claims by the association or a similar organization in another state. The court having jurisdiction shall grant such claims priority equal to that which the claimant would have been entitled in the absence of this act against the assets of the insolvent insurer. The expenses of the association or similar organization in handling claims shall be accorded the same priority as the liquidator's expenses. For purposes of this subsection, expenses for the investigation or defense of claims against insureds under policies with an insolvent insurer shall be considered expenses of the association or other similar organization in handling claims.(c) The association shall periodically file with the receiver or liquidator of the insolvent insurer statements of the covered claims paid by the association and estimates of anticipated claims on the association which shall preserve the rights of the association against the assets of the insolvent insurer.(d) The association shall have the right to recover from any person who is an affiliate of the insolvent insurer and whose liability obligations to other persons are satisfied in whole or in part by payments made under this act.History: L. 1970, ch. 185, § 9; L. 2005, ch. 92, § 3; Apr. 14.
KS Stat § 40-2910 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 29 - Kansas Insurance Guaranty Association Act|40-2910 Same; claims; exhaustion of rights under policy; recovery reductions.

40-2910. Same; claims; exhaustion of rights under policy; recovery reductions. (a) Any person having a claim against an insurer under any provision in an insurance policy other than a policy of an insolvent insurer which is also a covered claim shall be required to exhaust first his right under such policy. A claim under an insurance policy shall include a claim under any kind of insurance, whether such claim is a first party or third party claim, and shall include, without limitation, accident and health insurance, workers' compensation, Blue Cross and Blue Shield and all other coverages except for policies of an insolvent insurer. Any amount payable on a covered claim under this act shall be reduced by the amount of any recovery under such other insurance policy.(b) Any person having a claim which may be recovered under more than one insurance guaranty association or its equivalent shall seek recovery first from the association of the place of residence of the insured except that if it is a first party claim for damage to property with a permanent location, from the association of the location of the property, and if it is a workmen's compensation claim, from the association of the residence of the claimant. Any recovery under this act shall be reduced by the amount of the recovery from any other insurance guaranty association or its equivalent.(c) The provisions of this section, as amended, shall apply to all claims which have not been paid prior to the effective date of this act.History: L. 1970, ch. 185, § 10; L. 2005, ch. 92, § 4; Apr. 14.
KS Stat § 40-2911 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 29 - Kansas Insurance Guaranty Association Act|40-2911 Same; detection and prevention of insurer insolvencies; reports and recommendations.

40-2911. Same; detection and prevention of insurer insolvencies; reports and recommendations. To aid in the detection and prevention of insurer insolvencies: (a) The board of directors may, upon majority vote, make reports and recommendations to the commissioner upon any matter germane to the solvency, liquidation, rehabilitation or conservation of any member insurer. Such reports and recommendations shall not be considered public documents.(b) The board of directors may, upon majority vote, make recommendations to the commissioner for the detection and prevention of insurer insolvencies.(c) The board of directors shall, at the conclusion of any insurer insolvency in which the association was obligated to pay covered claims, prepare a report on the history and causes of such insolvency, based on the information available to the association, and submit such report to the commissioner.History: L. 1970, ch. 185, § 11; March 27.
KS Stat § 40-2912 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 29 - Kansas Insurance Guaranty Association Act|40-2912 Same; association subject to examination and regulation by commissioner; financial report.

40-2912. Same; association subject to examination and regulation by commissioner; financial report. The association shall be subject to examination and regulation by the commissioner. The board of directors shall submit, not later than March 30 of each year, a financial report for the preceding calendar year in a form approved by the commissioner.History: L. 1970, ch. 185, § 12; L. 2017, ch. 37, § 2; Apr. 20.
KS Stat § 40-2913 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 29 - Kansas Insurance Guaranty Association Act|40-2913 Same; tax exemptions.

40-2913. Same; tax exemptions. The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions except taxes levied on real or personal property.History: L. 1970, ch. 185, § 13; March 27.
KS Stat § 40-2914 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 29 - Kansas Insurance Guaranty Association Act|40-2914 Same; rates and premiums of policies to include amounts of assessments to association.

40-2914. Same; rates and premiums of policies to include amounts of assessments to association. The rates and premiums charged for insurance policies to which this act applies shall include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member insurer by the association and such rates shall not be deemed excessive because they contain an amount reasonably calculated to recoup assessments paid by the member insurer.History: L. 1970, ch. 185, § 14; March 27.
KS Stat § 40-2915 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 29 - Kansas Insurance Guaranty Association Act|40-2915 Same; liability of parties for actions.

40-2915. Same; liability of parties for actions. There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer, the association or its agents or employees, the board of directors, or the commissioner or his representatives for any action taken by them in the performance of their powers and duties under this act.History: L. 1970, ch. 185, § 15; March 27.
KS Stat § 40-2916 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 29 - Kansas Insurance Guaranty Association Act|40-2916 Same; stay of proceedings to permit defense by association; application to set aside judgment or finding.

40-2916. Same; stay of proceedings to permit defense by association; application to set aside judgment or finding. All proceedings in which the insolvent insurer is a party in any court in this state shall be stayed for sixty (60) days from the date the insolvency is determined to permit proper defense by the association of all pending causes of action. As to any covered claims arising from a judgment under any decision, verdict or finding based on the default of the insolvent insurer or its failure to defend an insured, the association either on its own behalf or on behalf of such insured may apply to have such judgment, order, decision, verdict or finding set aside by the same court or administrator that made such judgment, order, decision, verdict or finding and shall be permitted to defend against such claim on the merits.History: L. 1970, ch. 185, § 16; March 27.
KS Stat § 40-2917 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 29 - Kansas Insurance Guaranty Association Act|40-2917 Termination of operation of association, when; discontinuance of payments to association; distribution of assets of company.

40-2917. Termination of operation of association, when; discontinuance of payments to association; distribution of assets of company. (a) The commissioner shall by order terminate the operation of the Kansas insurance guaranty association as to any kind of insurance covered by this act with respect to which he has found, after hearing, that there is in effect a statutory or voluntary plan which: (1) Is a permanent plan which is adequately funded or for which adequate funding is provided; and(2) extends, or will extend to the Kansas policyholders and residents protection and benefits with respect to insolvent insurers not substantially less favorable and effective to such policyholders and residents than the protection and benefits provided with respect to such kinds of insurance under this act.(b) The commissioner shall by the same such order authorize discontinuance of future payments by insurers to the Kansas insurance guaranty association with respect to the same kinds of insurance: Provided, The assessments and payments shall continue, as necessary, to liquidate covered claims of insurers adjudged insolvent prior to said order and the related expenses not covered by such other plan.(c) In the event the operation of the Kansas insurance guaranty association shall be so terminated as to all kinds of insurance otherwise within its scope, the association as soon as possible thereafter shall distribute the balance of moneys and assets remaining, after discharge of the functions of the association with respect to prior insurer insolvencies not covered by such other plan, together with related expenses, to the insurers which are then writing in this state policies of the kinds of insurance covered by this act and which had made payments to the association, pro rate upon the basis of the aggregate of such payments made by the respective insurers during the period of five (5) years next preceding the date of such order. Upon completion of such distribution with respect to all of the kinds of insurance covered by this act, this act shall be deemed to have expired.History: L. 1970, ch. 185, § 17; March 27.
KS Stat § 40-2918 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 29 - Kansas Insurance Guaranty Association Act|40-2918 Same; rules and regulations.

40-2918. Same; rules and regulations. The commissioner may adopt reasonable regulations to carry out the provisions and purposes of this act.History: L. 1970, ch. 185, § 18; March 27.
KS Stat § 40-2919 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 29 - Kansas Insurance Guaranty Association Act|40-2919 Same; citation of act.

40-2919. Same; citation of act. This act shall be known and may be cited as the Kansas insurance guaranty association act.History: L. 1970, ch. 185, § 19; March 27.
KS Stat § 40-3001 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 30 - Life And Health Insurance Guaranty Association|40-3001 Name and citation of act.

40-3001. Name and citation of act. This act shall be known and may be cited as the Kansas life and health insurance guaranty association act.History: L. 1972, ch. 190, § 1; July 1.
KS Stat § 40-3002 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 30 - Life And Health Insurance Guaranty Association|40-3002 Purpose.

40-3002. Purpose. (a) The purpose of this act is to protect, subject to certain limitations, the persons specified in subsection (a) of K.S.A. 40-3003, and amendments thereto, against failure in the performance of contractual obligations, under life and health insurance policies and annuity contracts specified in subsection (b) of K.S.A. 40-3003, and amendments thereto, because of the impairment or insolvency of the member insurer that issued the policies or contracts.(b) To provide this protection, an association of insurers is created to pay benefits and to continue coverages as limited herein, and members of the association are subject to assessment to provide funds to carry out the purpose of this act.History: L. 1972, ch. 190, § 2; L. 1984, ch. 161, § 3; L. 1986, ch. 180, § 1; July 1.
KS Stat § 40-3004 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 30 - Life And Health Insurance Guaranty Association|40-3004 Liberal construction.

40-3004. Liberal construction. This act shall be liberally construed to effect the purpose under K.S.A. 40-3002 which shall constitute an aid and guide to interpretation.History: L. 1972, ch. 190, § 4; July 1.
KS Stat § 40-3006 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 30 - Life And Health Insurance Guaranty Association|40-3006 Kansas life and health insurance guaranty association, creation; members; functions and powers; accounts; under supervision of commissioner and insurance laws of state; meetings or records.

40-3006. Kansas life and health insurance guaranty association, creation; members; functions and powers; accounts; under supervision of commissioner and insurance laws of state; meetings or records. (a) There is hereby created a nonprofit legal entity to be known as the Kansas life and health insurance guaranty association. All member insurers shall be and remain members of the association as a condition of their authority to transact insurance in this state. The association shall perform its functions under the plan of operation established and approved under K.S.A. 40-3010, and amendments thereto, and shall exercise its powers through a board of directors established under K.S.A. 40-3007, and amendments thereto. For purposes of administration and assessment, the association shall maintain three accounts: (1) The health insurance account;(2) the life insurance account; and(3) the annuity account, excluding unallocated annuities.(b) The association shall come under the immediate supervision of the commissioner and shall be subject to the applicable provisions of the insurance laws of this state. Meetings or records of the association may be opened upon majority vote of the board of directors of the association.History: L. 1972, ch. 190, § 6; L. 1986, ch. 180, § 4; July 1.
KS Stat § 40-3007 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 30 - Life And Health Insurance Guaranty Association|40-3007 Board of directors of association; selection; approval; vacancies; compensation.

40-3007. Board of directors of association; selection; approval; vacancies; compensation. (a) The board of directors of the association shall consist of not less than five nor more than nine member insurers serving terms as established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of the commissioner. Vacancies on the board shall be filled for the remaining periods of the terms by a majority vote of the remaining board members, subject to the approval of the commissioner. To select the initial board of directors, and initially organize the association, the commissioner shall give notice to all member insurers of the time and place of the organizational meeting. In determining voting rights at the organizational meeting each member insurer shall be entitled to one vote in person or by proxy. If the board of directors is not selected within 60 days after notice of the organizational meeting, the commissioner may appoint the initial members.(b) In approving selections or in appointing members to the board, the commissioner shall consider, among other things, whether all member insurers are fairly represented.(c) Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board of directors but members of the board shall not otherwise be compensated by the association for their services.History: L. 1972, ch. 190, § 7; L. 1986, ch. 180, § 5; July 1.