Kansas § 40-3621 Liquidation of insurer; petition by commissioner; grounds

Kansas Statutes

§ 40-3621 — Liquidation of insurer; petition by commissioner; grounds

Kansas § 40-3621

Ch. 40INSURANCE

Art. 36IMPAIRED OR INSOLVENT INSURERS

This text of Kansas § 40-3621 (Liquidation of insurer; petition by commissioner; grounds) 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. § 40-3621 (2026).

Text

The commissioner may petition the district court of Shawnee county for an order directing the commissioner to liquidate a domestic insurer on the basis:

(a)Of any grounds for an order of rehabilitation as specified in K.S.A. 40-3616, whether or not there has been a prior order directing the rehabilitation of the insurer;

(b)that the insurer is insolvent; or

(c)that the insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors or the public.

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The commissioner may petition the district court of Shawnee county for an order directing the commissioner to liquidate a domestic insurer on the basis:
(a) Of any grounds for an order of rehabilitation as specified in K.S.A. 40-3616, whether or not there has been a prior order directing the rehabilitation of the insurer;
(b) that the insurer is insolvent; or
(c) that the insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors or the public.