Kansas Statutes 40-1630. Reciprocal; assessable insurance policies, prohibition against issuance
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Terms Used In Kansas Statutes 40-1630
- Reciprocal: means an aggregation of subscribers under a common name. See Kansas Statutes 40-1623
No reciprocal shall issue any assessable insurance policies. The subscribers of a reciprocal shall not be personally liable for the payment of the reciprocal’s debts or obligations. Any judgment against a reciprocal shall be binding only upon the reciprocal and not upon each of the reciprocal’s subscribers.