Kansas § 40-230a Deposit of securities purchased from sale of stock during organization period

Kansas Statutes

§ 40-230a — Deposit of securities purchased from sale of stock during organization period

Kansas § 40-230a

Ch. 40INSURANCE

Art. 2GENERAL PROVISIONS

This text of Kansas § 40-230a (Deposit of securities purchased from sale of stock during organization period) 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. § 40-230a (2026).

Text

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.

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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.