2011 Kansas Code
Chapter 40. - INSURANCE
Article 35. - MORTGAGE GUARANTY INSURANCE COMPANIES
40-3508 Limiting coverage net of reinsurance or payment of indebtedness to insured and acquisition of title to security; election.
40-3508. Limiting coverage net of reinsurance or payment of indebtedness to insured and acquisition of title to security; election. A mortgage guaranty insurance company shall limit its coverage net of reinsurance ceded to a reinsurer to a maximum of twenty-five percent (25%) of the entire indebtedness to the insured or in lieu thereof, a mortgage guaranty insurance company may elect to pay the entire indebtedness to the insured and acquire title to the authorized real estate security.
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