Kansas Statutes 40-2603. Act inapplicable, when
The provisions of this act shall not apply with respect to: (a) Any insurance company authorized to do business in the state of Kansas, or any agent or agency of an insurance company financing premiums on policies written by such agent or agency,
(b) any bank, trust company, savings and loan association, consumer loan licensee or sales finance company authorized to do business in this state,
Terms Used In Kansas Statutes 40-2603
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Licensee: means an insurance premium finance company holding a license issued by the commissioner under this act. See Kansas Statutes 40-2602
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
(c) the enrollment of individuals under a group policy or the inclusion of insurance in a credit transaction under an arrangement for its purchase by the creditor in compliance with the applicable provisions of the Kansas uniform consumer credit code, and
(d) the financing of insurance premiums in Kansas in accordance with the provisions of Kan. Stat. Ann. § 16-207, and amendments thereto, relating to legal interest rate.