reglab/housing_qa huggingface dataset:
KS Stat § 40-4340 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 43 - Captive Insurance Companies|40-4340 Same; issuance of securities.

40-4340. Same; issuance of securities. (a) A special purpose insurance captive may issue approved securities, subject to and in accordance with applicable law, its approved plan of operation and its organizational documents. A special purpose insurance captive may enter into and perform all its obligations under any required contract to facilitate the issuance of these securities.(b) The commissioner may approve the use of surplus notes. If the commissioner so approves, the special purpose insurance captive shall:(1) Account for the proceeds of surplus notes as surplus and not debt for purposes of statutory accounting; and(2) submit for prior approval of the commissioner periodic written requests for payments of interest on and repayments of principal of surplus notes.(c) The obligation to repay principal or interest, or both, on the securities issued by the special purpose insurance captive shall reflect the risk associated with the reinsurance obligations assumed by the special purpose insurance captive.History: L. 2018, ch. 50, § 23; July 1.
KS Stat § 40-4341 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 43 - Captive Insurance Companies|40-4341 Same; asset management.

40-4341. Same; asset management. A special purpose insurance captive's assets shall be managed in accordance with an investment management agreement filed with and approved by order of the commissioner. A special purpose insurance captive shall invest at least 90% of its assets in cash and securities that are investment grade at the time of the acquisition. The balance may be invested in cash, securities or other assets otherwise permitted in chapter 40 of the Kansas Statutes Annotated, and amendments thereto.History: L. 2018, ch. 50, § 24; July 1.
KS Stat § 40-4342 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 43 - Captive Insurance Companies|40-4342 Same; admitted assets.

40-4342. Same; admitted assets. Admitted assets of the special purpose insurance captive shall include permitted investments, proceeds from a securitization, premium and other amounts payable by a ceding insurer to the special purpose insurance captive, and any other assets approved by the commissioner. Additionally, letters of credit and guarantees of a parent may be recognized as an admitted asset on the special purpose insurance captive's financial statements with prior approval of the commissioner. The commissioner may, by order, reduce the amount of admitted assets previously approved if the commissioner determines that the value of those assets has decreased. At least 30 days prior to issuing any such order, the commissioner shall notify the special purpose insurance captive and provide it with an opportunity to remedy the issues identified by the commissioner. If the issues identified by the commissioner have not been resolved to the commissioner's satisfaction at the end of the 30-day period, the commissioner shall issue the order. The special purpose insurance captive shall have the right to a hearing, at which the insurer may challenge any determination or action by the commissioner. The special purpose insurance captive shall notify the commissioner of its request for hearing within 15 days after the issuance of the order. Hearings under this section shall be conducted in accordance with the provisions of the Kansas administrative procedure act.History: L. 2018, ch. 50, § 25; July 1.
KS Stat § 40-4343 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 43 - Captive Insurance Companies|40-4343 Same; prohibited activities.

40-4343. Same; prohibited activities. A special purpose insurance captive shall not:(a) Enter into a special purpose insurance captive contract with a person that is not authorized to transact the business of insurance or reinsurance in at least its state or country of domicile; or(b) lend or otherwise invest or place in custody, trust or under management any of its assets with, or to borrow money or receive a loan, other than according to the plan of operation filed with and approved by the commissioner.History: L. 2018, ch. 50, § 26; July 1.
KS Stat § 40-4344 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 43 - Captive Insurance Companies|40-4344 Same; dividends and distributions; limitations.

40-4344. Same; dividends and distributions; limitations. (a) A special purpose insurance captive shall not declare or pay dividends or distributions in any form to its owners other than in accordance with the transaction agreements or plan of operation.(b) Dividends and distributions may not decrease the capital of the special purpose insurance captive below the minimum capital requirements.(c) All dividends and distributions shall be approved by the commissioner. After giving effect to the dividends, the assets of the special purpose insurance captive, including assets held in trust and letters of credit issued for the exclusive benefit of the special purpose insurance captive, must be sufficient to satisfy the commissioner so that it can meet its obligations, in order to be approved.(d) Dividends and distributions may be declared by the management of the special purpose insurance captive, provided that the dividend amount or form does not violate the provisions of this section or jeopardize the fulfillment of the obligations of the special purpose insurance captive.History: L. 2018, ch. 50, § 27; July 1.
KS Stat § 40-4345 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 43 - Captive Insurance Companies|40-4345 Same; plan of operation; changes.

40-4345. Same; plan of operation; changes. Any material changes to a special purpose insurance captive's plan of operation shall require the prior written approval of the commissioner. The plan of operation must specify which deviations shall be considered material.History: L. 2018, ch. 50, § 28; July 1.
KS Stat § 40-4346 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 43 - Captive Insurance Companies|40-4346 Same; affiliated agreements.

40-4346. Same; affiliated agreements. Copies of all completed affiliated agreements to which the special purpose insurance captive is a party, including, but not limited to, the special purpose insurance captive contract or contracts and any reinsurance agreements to which the special purpose insurance captive is a party must be filed with the commissioner for prior approval.History: L. 2018, ch. 50, § 29; July 1.
KS Stat § 40-4349 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 43 - Captive Insurance Companies|40-4349 Same; taxation.

40-4349. Same; taxation. (a) Each special purpose insurance captive shall pay to the commissioner on or before May 1 of each year a premium tax at the rate of 0.214 of 1% on the first $20,000,000 of the assumed reinsurance premium, 0.143 of 1% on the next $20,000,000, 0.048 of 1% on the next $20,000,000 and 0.024 of 1% of each dollar thereafter. No reinsurance premium tax shall be payable in connection with the receipt of assets in exchange for the assumption of loss reserves and other liabilities of another insurer under common ownership and control if such transaction is part of a plan to discontinue the operations of such other insurer, and if the intent of the parties to such transaction is to renew or maintain such business with the captive insurance company.(b) The premium tax imposed by subsection (a) shall constitute all taxes collectible under the laws of this state from any special purpose insurance captive, and no other occupation tax or other taxes shall be levied or collected from any captive insurance company by the state or any county, city or municipality within this state, except ad valorem taxes on real and personal property used in the production of income.(c) Every special purpose insurance captive shall, on or before February 1 of each year, make a return on a form provided by the commissioner, verified by the affidavit of the company's president and secretary or other authorized officers, to the commissioner stating the amount of all direct premiums received and assumed reinsurance premiums received, whether in cash or in notes, during the year ending on December 31 next preceding. Upon receipt of such returns, the commissioner shall verify the same and certify the amount of tax due from the various companies on the basis and at the rate provided in this section, on or before March 31 of each year. The commissioner shall immediately thereafter notify and assess each company the amount of tax due.(d) A special purpose insurance captive failing to make returns as required by subsection (c), or failing to pay within the time required all taxes assessed by this section, shall be subject to the provisions of K.S.A. 40-2806, and amendments thereto.History: L. 2018, ch. 50, § 32; July 1.
KS Stat § 40-4351 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 43 - Captive Insurance Companies|40-4351 Same; conservation, rehabilitation or liquidation, grounds for.

40-4351. Same; conservation, rehabilitation or liquidation, grounds for. (a) The commissioner may, after notice and hearing, issue an order, subject to the Kansas administrative procedure act, to conserve, rehabilitate or liquidate a special purpose insurance captive domiciled in this state on one or more of the following grounds:(1) There has been embezzlement, wrongful sequestration, dissipation or diversion of the assets of the special purpose insurance captive;(2) the special purpose insurance captive is financially impaired, insolvent or otherwise deemed to be in a hazardous financial condition pursuant to K.S.A. 40-222b, and amendments thereto; or(3) the holders of a majority in outstanding principal amount of each class of special purpose insurance captive securities or surplus notes request or consent to conservation, rehabilitation or liquidation under the provisions of this section.(b) Upon any order of conservation, rehabilitation or liquidation of a special purpose insurance captive, the receiver shall manage the assets and liabilities of the special purpose insurance captive under the provisions of chapter 40 of the Kansas Statutes Annotated, and amendments thereto.(c) With respect to amounts recoverable under a special purpose insurance captive contract, the amount recoverable by the receiver must not be reduced or diminished as a result of the entry of an order of conservation, rehabilitation or liquidation with respect to the ceding company, notwithstanding another provision in the special purpose insurance captive contract or other documentation governing the special purpose insurance captive's transactions.History: L. 2018, ch. 50, § 34; July 1.
KS Stat § 40-4352 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 43 - Captive Insurance Companies|40-4352 Same; rules and regulations.

40-4352. Same; rules and regulations. The commissioner may promulgate all rules and regulations necessary to effectuate the provisions of K.S.A. 40-4332 through 40-4352, and amendments thereto.History: L. 2018, ch. 50, § 35; July 1.
KS Stat § 40-4353 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 43 - Captive Insurance Companies|40-4353 Captive insurance act; citation.

40-4353. Captive insurance act; citation. K.S.A. 40-4301 through 40-4304, 40-4306 through 40-4315, 40-4317 and 40-4318 and K.S.A. 40-4319 through 40-4353, and amendments thereto, shall be known and may be cited as the captive insurance act.History: L. 2018, ch. 50, § 1; July 1.
KS Stat § 40-4408 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 44 - Kansas Healthy Kids Program|40-4408 Transfer of moneys in healthy kids trust fund to state general fund; healthy kids trust fund abolished.

40-4408. Transfer of moneys in healthy kids trust fund to state general fund; healthy kids trust fund abolished. On the effective date of this act, the director of accounts and reports shall transfer all moneys in the healthy kids trust fund to the state general fund. On the effective date of this act, all liabilities of the healthy kids trust fund are hereby transferred to and imposed on the state general fund and the healthy kids trust fund is hereby abolished.History: L. 1994, ch. 32, § 1; July 1.
KS Stat § 40-4501 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 45 - Regulation Of Reinsurance Intermediaries|40-4501 Citation of act.

40-4501. Citation of act. This act may be cited as the reinsurance intermediary act.History: L. 1992, ch. 15, § 1; Dec. 31.
KS Stat § 40-4504 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 45 - Regulation Of Reinsurance Intermediaries|40-4504 Contracts between reinsurance brokers and insurers; written authorization required, contents.

40-4504. Contracts between reinsurance brokers and insurers; written authorization required, contents. Transactions between a reinsurance broker and the insurer it represents in such capacity shall only be entered into pursuant to a written authorization, specifying the responsibilities of each party. The authorization shall, at a minimum, provide that:(a) The insurer may terminate the reinsurance broker's authority at any time;(b) the reinsurance broker shall render accounts to the insurer accurately detailing all material transactions, including information necessary to support all commissions, charges and other fees received by, or owing, to the reinsurance broker, and remit all funds due to the insurer within 30 days of receipt;(c) all funds collected for the insurer's account shall be held by the reinsurance broker in a fiduciary capacity in a bank which is a qualified United States financial institution as defined herein;(d) the reinsurance broker shall comply with K.S.A. 40-4505;(e) the reinsurance broker shall comply with the written standards established by the insurer for the cession or retrocession of all risks; and(f) the reinsurance broker shall disclose to the insurer any relationship with any reinsurer to which business will be ceded or retroceded.History: L. 1992, ch. 15, § 4; Dec. 31.
KS Stat § 40-4505 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 45 - Regulation Of Reinsurance Intermediaries|40-4505 Same; records to be maintained by reinsurance broker; rights of insurer to access, copy and audit records.

40-4505. Same; records to be maintained by reinsurance broker; rights of insurer to access, copy and audit records. (a) For at least 10 years after expiration of each contract of reinsurance transacted by the reinsurance broker, the reinsurance broker shall keep a complete record for each transaction showing:(1) The type of contract, limits, underwriting restrictions, classes or risks and territory;(2) period of coverage, including effective and expiration dates, cancellation provisions and notice required of cancellation;(3) reporting and settlement requirements of balances;(4) rate used to compute the reinsurance premium;(5) names and addresses of assuming reinsurers;(6) rates of all reinsurance commissions, including the commissions on any retrocessions handled by the reinsurance broker;(7) related correspondence and memoranda;(8) proof of placement;(9) details regarding retrocessions handled by the reinsurance broker including the identity of retrocessionaires and percentages of each contract assumed or ceded;(10) financial records, including but not limited to, premium and loss accounts; and(11) when the reinsurance broker procures a reinsurance contract on behalf of a licensed ceding insurer:(A) Directly from any assuming reinsurer, written evidence that the assuming reinsurer has agreed to assume the risk; or(B) if placed through a representative of the assuming reinsurer, other than an employee, written evidence that such reinsurer has delegated binding authority to the representative.(b) The insurer shall have access and the right to copy and audit all accounts and records maintained by the reinsurance broker related to its business in a form usable by the insurer.History: L. 1992, ch. 15, § 5; Dec. 31.
KS Stat § 40-4506 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 45 - Regulation Of Reinsurance Intermediaries|40-4506 Same; conditions; broker to provide insurer annual statement of financial condition.

40-4506. Same; conditions; broker to provide insurer annual statement of financial condition. (a) An insurer shall not engage the services of any person, firm, association or corporation to act as a reinsurance broker on its behalf unless such person is licensed as required by subsection (a) of K.S.A. 40-4503.(b) An insurer may not employ an individual who is employed by a reinsurance broker with which it transacts business, unless such reinsurance broker is under common control with the insurer and subject to the holding company act.(c) The insurer shall annually obtain a copy of statements of the financial condition of each reinsurance broker with which it transacts business.History: L. 1992, ch. 15, § 6; Dec. 31.
KS Stat § 40-4508 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 45 - Regulation Of Reinsurance Intermediaries|40-4508 Same; reinsurance managers precluded from taking certain actions.

40-4508. Same; reinsurance managers precluded from taking certain actions. The reinsurance manager shall not:(a) Cede retrocessions on behalf of the reinsurer, except that the reinsurance manager may cede faculative retrocessions pursuant to obligatory faculative agreements if the contract with the reinsurer contains reinsurance underwriting guidelines for such retrocessions. Such guidelines shall include a list of reinsurers with which such automatic agreements are in effect, and for each such reinsurer, the coverages and amounts or percentages that may be reinsured, and commission schedules;(b) commit the reinsurer to participate in reinsurance syndicates;(c) appoint any producer without assuring that the producer is lawfully licensed to transact the type of reinsurance for which such producer is appointed;(d) without prior approval of the reinsurer, pay or commit the reinsurer to pay a claim, net of retrocessions, that exceeds the lesser of an amount specified by the reinsurer or one percent of the reinsurer's policyholder's surplus as of December 31 of the last complete calendar year;(e) collect any payment from a retrocessionaire or commit the reinsurer to any claim settlement with a retrocessionaire, without prior approval of the reinsurer. If prior approval is given, a report must be promptly forwarded to the reinsurer;(f) jointly employ an individual who is employed by the reinsurer unless such reinsurance manager is under common control with the reinsurer subject to the holding company act;(g) appoint a sub-reinsurance manager.History: L. 1992, ch. 15, § 8; Dec. 31.
KS Stat § 40-4509 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 45 - Regulation Of Reinsurance Intermediaries|40-4509 Same; conditions; manager to provide reinsurer annual statement of financial condition; actuarial opinion on adequacy of loss reserves; authority over retrocessional contracts and syndicate participation; notice of contract termination to commissioner; reinsurance manager, officers, directors, employees, controlling shareholders and subproducers ineligible for appointment to reinsurer board.

40-4509. Same; conditions; manager to provide reinsurer annual statement of financial condition; actuarial opinion on adequacy of loss reserves; authority over retrocessional contracts and syndicate participation; notice of contract termination to commissioner; reinsurance manager, officers, directors, employees, controlling shareholders and subproducers ineligible for appointment to reinsurer board. (a) A reinsurer shall not engage the services of any person, firm, association or corporation to act as a reinsurance manager on its behalf unless such person is licensed as required by subsection (b) of K.S.A. 40-4503.(b) The reinsurer shall annually obtain a copy of statements of the financial condition of each reinsurance manager which such reinsurer has engaged to be prepared by an independent certified accountant in a form acceptable to the commissioner.(c) If a reinsurance manager establishes loss reserves, the reinsurer shall annually obtain the opinion of an actuary attesting to the adequacy of loss reserves established for losses incurred and outstanding on business produced by the reinsurance manager. This opinion shall be in addition to any other required loss reserve certification.(d) Binding authority for all retrocessional contracts or participation in reinsurance syndicates shall rest with an officer of the reinsurer who shall not be affiliated with the reinsurance manager.(e) Within 30 days of termination of a contract with a reinsurance manager, the reinsurer shall provide written notification of such termination to the commissioner.(f) A reinsurer shall not appoint to its board of directors, any officer, director, employee, controlling shareholder or subproducer of its reinsurance manager. This subsection shall not apply to relationships governed by the holding company act or, if applicable, the broker controlled insurer act.History: L. 1992, ch. 15, § 9; Dec. 31.
KS Stat § 40-4510 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 45 - Regulation Of Reinsurance Intermediaries|40-4510 Examination; access to books, bank accounts and records.

40-4510. Examination; access to books, bank accounts and records. (a) A reinsurance intermediary shall be subject to examination by the commissioner pursuant to K.S.A. 40-222 and 40-223 and amendments thereto. The commissioner shall have access to all books, bank accounts and records of the reinsurance intermediary in a form usable to the commissioner.(b) A reinsurance manager may be examined as if it were the reinsurer.History: L. 1992, ch. 15, § 10; Dec. 31.
KS Stat § 40-4512 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 45 - Regulation Of Reinsurance Intermediaries|40-4512 Rules and regulations.

40-4512. Rules and regulations. The commissioner may adopt rules and regulations for the implementation and administration of this act.History: L. 1992, ch. 15, § 12; Dec. 31.
KS Stat § 40-4513 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 45 - Regulation Of Reinsurance Intermediaries|40-4513 Continuation of existing contracts.

40-4513. Continuation of existing contracts. Contracts between an insurer and a reinsurance broker or a reinsurer and a reinsurance manager which became effective on or before the effective date of this act may continue in full effect and force until June 30, 1993.History: L. 1992, ch. 15, § 13; Dec. 31.
KS Stat § 40-4601 (2021)
2021 Kansas Statutes|Chapter 40 - Insurance|Article 46 - Managed Care|40-4601 Patient protection act; citation.

40-4601. Patient protection act; citation. K.S.A. 40-4601 to 40-4608 shall be known and may be cited as the patient protection act.History: L. 1997, ch. 190, § 16; July 1.