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2020 Kansas Statutes
Chapter 40 - Insurance
Article 43 - Captive Insurance Companies
40-4338 Same; miscellaneous requirements.
Universal Citation: KS Stat § 40-4338 (2020)
40-4338. Same; miscellaneous requirements.
(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.
History: L. 2018, ch. 50, ยง 21; July 1.
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