Kan. Stat. Ann. § 40-509
Same; resolution of boards of directors
Kansas · Kansas Statutes Annotated Chapter 40 — Insurance · Status: effective
Cite this
- Citation
- Kan. Stat. Ann. § 40-509, Same; resolution of boards of directors, Kansas, version 1 as recorded 2026-10-04, yourstate.us, https://yourstate.us/provision/2554439
- Permanent ID
ys:prov:2554439@1- SHA-256
77c4cde1d04a67b6ab277ba85e9d52526ccdd532753159ade6fe0d8bf94e1b41
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) The board of directors of each of the mutual insurers proposing to merge or consolidate shall, by resolution adopted by at least a majority of all the members of each board, approve a joint agreement of merger or consolidation, as the case may be, between the insurer parties, setting forth the terms and conditions of the merger or consolidation, the mode of carrying the same into effect and such other provisions as are deemed advisable.
(b) Upon approving such an agreement, each board by resolution shall direct the same be submitted to the commissioner of insurance subject to disapproval as provided in K.S.A. 40-510 and to the approval of the policyholders of the respective insurers as provided in K.S.A. 40-511.