KANSAS OFFICE of
  REVISOR of STATUTES

  

Home >> Statutes >> Back


Click to open printable format in new window.Printable Format
 | Next

40-2b27. Medium and lower grade obligations; definitions. As used in K.S.A. 40-2b28:

(a) "Medium grade obligations" means obligations which are designated "3" by the SVO or its equivalent rating by a nationally recognized statistical rating organization recognized by the SVO.

(b) "Lower grade obligations" means obligations which are designated "4," "5" or "6" by the SVO or its equivalent rating by a nationally recognized statistical rating organization recognized by the SVO.

(c) "Admitted assets" means the amount shown on the insurer's last annual report as filed with the state commissioner of insurance or a more recent quarterly financial statement filed with the commissioner.

(d) "Aggregate amount" of medium grade and lower grade obligations means the aggregate statutory statement value thereof.

(e) "Institution" means a corporation, a joint-stock company, an association, a trust, a business partnership, a business joint venture or similar entity.

(f) "Insurance company" or "insurer" means any life insurance company organized under the laws of this state.

(g) "NAIC" means the national association of insurance commissioners.

(h) "SVO" means the securities valuation office of the NAIC or any successor office established by the NAIC.

History: L. 1992, ch. 121, § 3; L. 2015, ch. 7, § 13; July 1.


 | Next

NEW
2021 New, Amended and Repealed Statutes

2021 SPECIAL SESSION
Information for Special Session 2021

LEGISLATIVE COORDINATING COUNCIL
9/23/2022 Meeting Notice Agenda
6/16/2022 Meeting Notice Agenda
2/23/2022 Meeting Notice Agenda
1/7/2022 Meeting Notice Agenda

LCC Policies

KANSAS COMMISSION ON INTERSTATE
COOPERATION
6/29/2022 Meeting Notice Agenda

REVISOR OF STATUTES
2021 Interim Assignments
2022 Valid Section Numbers
Chapter 72 Statute Transfer List
Kansas School Equity & Enhancement Act
Gannon v. State
General Information, Legal Analysis & Research
2021 Amended & Repealed Statutes
2020 Amended & repealed Statutes
2019 Amended & Repealed Statutes

USEFUL LINKS
Session Laws

 OTHER LEGISLATIVE SITES
Kansas Legislature
Administrative Services
Division of Post Audit
Research Department