Kansas Administrative Regulations
Agency 40 - INSURANCE DEPARTMENT
Article 5 - CREDIT INSURANCE
Section 40-5-12 - Consumer credit insurance; termination of coverage; prohibited contractual provisions
Universal Citation: KS Admin Regs 40-5-12
Current through Register Vol. 43, No. 39, September 26, 2024
(a) A policy or certificate of consumer credit insurance as defined in K.S.A. 16a-4-103, that may be issued, delivered, renewed or continued within or outside this state covering residents of this state, shall not contain provisions which permit coverage to be terminated by the insurer with respect to any policyholder, certificate holder or other insured person unless:
(1) The policy or
certificate is formally and specifically terminated;
(2) the insured and any affected certificate
holder is provided not less than ten days written notice of termination; and
(3) any unearned premium is
returned to the borrower or credited to the account of the consumer as required
by K.S.A. 16a-4-108.
(b) The restrictions imposed by section (a) of this regulation shall not apply with respect to transactions permitted or required by K.S.A. 16a-4-108.
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