Kansas Statutes 40-1217. Merger or consolidation of certain mutual companies other than life; powers of merged company
Terms Used In Kansas Statutes 40-1217
- consolidation: means the joining of two (2) or more companies in any manner so that a single new consolidated company results therefrom. See Kansas Statutes 40-1216
- merger: means the union of two (2) or more companies into a single company which is one of the companies so uniting. See Kansas Statutes 40-1216
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
Any, other than life, solvent domestic mutual insurance company, organized pursuant to the provisions of Kan. Stat. Ann. § chapter 40, article 10, 12 or 15, may:
(1) Merge or consolidate with any other, other than life, solvent domestic mutual insurance company as hereinafter provided.
(2) Merge or consolidate with any other, other than life, solvent non-domestic mutual insurance company which is authorized to do an insurance business in this state if such merger or consolidation is authorized by the laws of the state or territory in which such non-domestic company is organized as hereinafter provided.
(3) By virtue of such merger or consolidation, do the kinds of insurance business in the manner and for the purposes for which a, other than life, mutual insurance company may be organized in this state or in the manner and for the purposes for which a, other than life, non-domestic mutual insurance company may be licensed or authorized to do business in this state.