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

Kansas Statutes

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

Kansas·Ch. 40 INSURANCE·Art. 10 MUTUAL FIRE AND TORNADO COMPANIES

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.

Free access — add to your briefcase to read the full text and ask questions with AI

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.

Kansas § 40-1016 (Limitation on amount of risk; reinsurance) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.