40-3602. Insolvent insurers; offset of unearned premiums by agent; contract provisions with agent, application.
40-3602
40-3602. Insolvent insurers; offset of unearned premiums by agent;contract provisions with agent, application.(a) Subject to the limitations specified in K.S.A. 40-2906and amendments thereto, an insurance agent shall have the right to offsetunearned premiums for their insureds on payment of the agent's account toan insolvent insurer as defined in K.S.A. 40-2903 and amendments thereto.
(b) The provisions of any contract between an insurance agent and aninsolvent insurer shall apply for the duration of all policies in effectand until all accounts are settled with the insolvent insurer.
History: L. 1986, ch. 167, § 1; April 24.