Kansas § 40-12a08 Liability of insureds; certain distributions precluded; distribution of dividends

Kansas Statutes

§ 40-12a08 — Liability of insureds; certain distributions precluded; distribution of dividends

Kansas·Ch. 40 INSURANCE·Art. 12a MUTUAL INSURANCE COMPANIES ORGANIZED TO PROVIDE HEALTH CARE PROVIDER LIABILITY INSURANCE

No insured shall be liable for any amounts other than the annual premium. The business of the company shall be conducted so as to preclude any distribution of income, profit or property of the company to the individual members thereof except in payment of dividends, debts, claims or indemnities or upon the final dissolution of the company. Dividends may be credited to a member's account and distributed in accordance with a plan adopted by the board of directors.

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

No insured shall be liable for any amounts other than the annual premium. The business of the company shall be conducted so as to preclude any distribution of income, profit or property of the company to the individual members thereof except in payment of dividends, debts, claims or indemnities or upon the final dissolution of the company. Dividends may be credited to a member's account and distributed in accordance with a plan adopted by the board of directors.

Kansas § 40-12a08 (Liability of insureds; certain distributions precluded; distribution of dividends) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.