40-3002 - Purpose of act.
KansasStatutes
Ask Donna
How this section applies to your facts.
KS Code › Chapter 40 › Article 30 › Section 40-3002
Text
40-3002. Purpose of act. (a) The purpose of this act is to protect, subject to certain limitations, the persons specified in K.S.A. 40-3003, and amendments thereto, against failure in the performance of contractual obligations, under life, health and annuity policies, plans and contracts specified in K.S.A. 40-3003, and amendments thereto, because of the impairment or insolvency of the member insurer that issued the policies or contracts.
(b) To provide this protection, an association of member insurers is created to pay benefits and to continue coverages as limited herein, and members of the association are subject to assessment to provide funds to carry out the purpose of this act.
This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.