Kansas Statutes 40-1601. Exchange contracts authorized
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Terms Used In Kansas Statutes 40-1601
- Reciprocal: means an aggregation of subscribers under a common name. See Kansas Statutes 40-1623
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
Persons of this state, hereby designated subscribers, are hereby authorized to exchange reciprocal or interinsurance contracts with each other, or with persons of other states and countries, providing indemnity among themselves from any loss which may be the subject of legal insurance, excepting life insurance.