Kansas § 40-1016 Limitation on amount of risk; reinsurance

Kansas Statutes

§ 40-1016 — Limitation on amount of risk; reinsurance

Kansas § 40-1016

Ch. 40INSURANCE

Art. 10MUTUAL FIRE AND TORNADO COMPANIES

This text of Kansas § 40-1016 (Limitation on amount of risk; reinsurance) is published on Counsel Stack Legal Research, covering Kansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Kan. Stat. Ann. § 40-1016 (2026).

Text

No such company shall expose itself to loss on any one risk or hazard, either by one or more policies, to an amount exceeding ten percent of all its resources at the date of the policy, unless such excess be reinsured, except in organizing the company policies may be issued up to one thousand dollars, and such company may reinsure such portion of its risk as the board of directors deem for the best interest of its policyholders.

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No such company shall expose itself to loss on any one risk or hazard, either by one or more policies, to an amount exceeding ten percent of all its resources at the date of the policy, unless such excess be reinsured, except in organizing the company policies may be issued up to one thousand dollars, and such company may reinsure such portion of its risk as the board of directors deem for the best interest of its policyholders.