Kansas § 40-4338 Same; miscellaneous requirements

Kansas Statutes

§ 40-4338 — Same; miscellaneous requirements

Kansas·Ch. 40 INSURANCE·Art. 43 CAPTIVE INSURANCE COMPANIES

(a)Activities of a special purpose insurance captive shall be limited to those necessary to accomplish its purpose as outlined in its plan of operation.

(b)The name of a special purpose insurance captive shall not be deceptively similar to or likely to be confused with another existing business name registered in the state.

(c)A special purpose insurance captive must have at least three incorporators or organizers, at least one of whom shall be a resident of the state.

(d)The capital stock of a special purpose insurance captive incorporated as a stock company shall be issued at not less than par value.

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(a) Activities of a special purpose insurance captive shall be limited to those necessary to accomplish its purpose as outlined in its plan of operation.
(b) The name of a special purpose insurance captive shall not be deceptively similar to or likely to be confused with another existing business name registered in the state.
(c) A special purpose insurance captive must have at least three incorporators or organizers, at least one of whom shall be a resident of the state.
(d) The capital stock of a special purpose insurance captive incorporated as a stock company shall be issued at not less than par value.

Kansas § 40-4338 (Same; miscellaneous requirements) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.