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40-1105. Revocation of certificate of authority, when. Whenever the surplus of any domestic or foreign insurance company authorized to transact any of the kinds or classes of business specified in section 40-1102 of this article shall be less than the minimum surplus required by law, the commissioner of insurance shall revoke the certificate of authority of such corporation to do business, in accordance with the hearing provisions set forth in K.S.A. 40-222.

History: L. 1927, ch. 231, 40-1105; L. 1967, ch. 265, § 1; July 1.

Source or Prior Law:

L. 1917, ch. 127, § 4; R.S. 1923, 17-1805.


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