(a) Every insurance company organized under the laws of this state and required by this act to pay a premium tax or privilege fee pursuant to Kan. Stat. Ann. § 40-252, and amendments thereto, shall be entitled to a credit, on the premium taxes or privilege fees imposed by Kan. Stat. Ann. § 40-252, and amendments thereto, of 25% of such taxes or fees if at least 30% of such insurance company’s admitted assets is invested in Kansas securities.

(b) For the purpose of this section: (1) The term “insurance company” shall mean any insurance company, mutual nonprofit hospital corporation, nonprofit medical service corporation or any corporation, society or association to which Kan. Stat. Ann. § 40-252, and amendments thereto, applies;

Terms Used In Kansas Statutes 40-252c

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Commissioner: means the commissioner of insurance of this state;

    (b) "company" means any person engaging in or proposing or attempting to engage in any transaction or kind of insurance or surety business and any person or group of persons who may otherwise be subject to the administrative, regulatory or taxing authority of the commissioner;

    (c) "department" means the department of insurance of this state;

    (d) "examiner" means any individual or firm having been authorized by the commissioner to conduct an examination under this act;

    (e) "insurer" shall have the meaning ascribed to the term "insurance company" by Kan. See Kansas Statutes 40-222f

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • insurance company: shall mean and include all corporations, companies, associations, societies, fraternal benefit societies, reciprocal exchanges, persons or partnerships writing contracts of insurance, indemnity or suretyship in this state upon any type of risk or loss except insurance companies transacting business pursuant to the provisions of Kan. See Kansas Statutes 40-222c
  • Property: includes personal and real property. See Kansas Statutes 77-201
  • Service corporation: means a nonprofit medical and hospital service corporation organized under the provisions of Kan. See Kansas Statutes 40-2,116
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201

(2) The term “admitted assets” shall mean the assets treated as admitted assets in the annual statement required to be filed with the commissioner of insurance pursuant to this act and Kan. Stat. Ann. § 40-225, and amendments thereto; and

(3) The term “Kansas securities” shall mean real estate in this state, bonds of the state of Kansas, bonds or interest bearing warrants of any county, city, town, school district or municipality or subdivision of the state of Kansas, notes or bonds secured by mortgages or other liens on real estate located in the state of Kansas, cash deposits in regularly established national or state banks in this state on the basis of the average monthly deposits throughout the calendar year, policy loans secured by the legal reserve on policies insuring residents of the state of Kansas, and any other Kansas property or securities in which, by the laws of the state of Kansas, such insurance companies may invest their funds. The provisions of this section shall not be applicable to any taxable year after tax year 1998.

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