2011 Kansas Code
Chapter 40. - INSURANCE
Article 2b. - INVESTMENTS BY LIFE INSURANCE COMPANIES
40-2b27 Medium and lower grade obligations; definitions.

40-2b27.Medium and lower grade obligations; definitions. As used in K.S.A. 40-2b28:

(a) "Medium grade obligations" means obligations which are designated "3" by the national association of insurance commissioners in its most recently published valuations of securities manual.

(b) "Lower grade obligations" means obligations which are designated "4", "5" or "6" by the national association of insurance commissioners in its most recently published valuations of securities manual.

(c) "Admitted assets" means the amount shown on the insurer's last annual report as filed with the state commissioner of insurance.

(d) "Aggregate amount"  of medium grade and lower grade obligations means the aggregate statutory statement value thereof.

(e) "Institution" means a corporation, a joint-stock company, an association, a trust, a business partnership, a business joint venture or similar entity.

(f) "Insurance company" or "insurer" means any life insurance company organized under the laws of this state.

Disclaimer: These codes may not be the most recent version. Kansas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.