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2016 Statute



Prev Article 43. - CAPTIVE INSURANCE COMPANIESNext


40-4305.Surplus requirements. (a) No captive insurance company shall be issued a certificate of authority unless it shall possess and thereafter maintain free surplus of:

(1) In the case of a pure captive insurance company, not less than $150,000;

(2) in the case of an industrial insured captive insurance company incorporated as a stock insurer, not less than $300,000; and

(3) in the case of an industrial insured captive insurance company incorporated as a mutual insurer, not less than $500,000.

(b) Such surplus may be in the form of cash or an irrevocable letter of credit issued by a bank chartered by the state of Kansas or the United States comptroller of currency, domiciled in Kansas, and approved by the commissioner.

History: L. 1988, ch. 156, § 5; July 1.



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2017. Powered by KLISS. Rendered: 2017-12-08T00:39:59. Head Rev No: 340954