40-755. Annual statement to include valuation of certificates in force; certification or verification of actuary.
40-755
40-755. Annual statement to include valuation of certificates in force;certification or verification of actuary.As part of the annual statementherein required, each society shall,on or before the first day of March, file with the commissioner ofinsurance a valuation of its certificates in force on December 31 lastpreceding, providing the commissioner of insurance may, in the exercise ofdiscretion for cause shown, extend the time for filing such valuation fornot more than two calendar months. Such valuation shall be done inaccordance with the standards specified in K.S.A. 40-754. Suchvaluation andunderlying data shall be certified by a qualified actuary or, at theexpense of the society, verified by the actuary of the department ofinsurance of the state of domicile of the society.
History: L. 1988, ch. 154, § 18;L. 1997, ch. 24, § 2; July 1.