Kansas Statutes
§ 40-230a — Deposit of securities purchased from sale of stock during organization period
The proceeds from the sale of stock during the period of organization of any insurance company now being or hereafter to be organized under the laws of this state shall be immediately invested in such securities as are permitted by law, and such securities shall be immediately deposited in accordance with K.S.A. 40-229a. An amount equal to the maximum promotion expense allowed by law may be deducted from the proceeds of such sales.
Free access — add to your briefcase to read the full text and ask questions with AI
Kansas § 40-230a (Deposit of securities purchased from sale of stock during organization period) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
§ 40-229a
Kansas § 40-229a
Legislative History
L. 1931, ch. 209, § 1; L. 1996, ch. 25, § 2; July 1.
Nearby Sections
15
§ 40-1002
Classification of insurable property§ 40-1004
Directors; election; vacancy§ 40-1005
Annual meeting of members; proxies§ 40-1006
Officers; election; term§ 40-1007
Deposit notes§ 40-101
Name§ 40-1011
Property to be assessed and taxed§ 40-1012
Bylaws§ 40-1013
Classification of risks