40-1606. Advancements to company; conditions.
40-1606
40-1606. Advancements to company;conditions.If at any time it appears that the amount of funds required in K.S.A.40-1605, and amendments thereto, has not beenaccumulated or maintained, then the attorney-in-fact or any otherinterested party may advance to a reciprocal any funds required in suchreciprocal's operations. The funds so advanced shall not be treated as aliability of thereciprocal and interest shall not be paid or funds repaid except with theapproval of the supervising insurance official of the state in which thereciprocal isdomiciled. Any such advance and interest shall be repaid onlyout of the surplus funds of the reciprocal.
History: L. 1927, ch. 231, 40-1606;L. 2000, ch. 170, § 22; July 1.