Kansas Statutes § 40-299 Sale of physical damage insurance in connection with sale and financing of automobile; acknowledgment by purchaser, form; suspension, or revocation of license.

A dealer or related insurance agent selling automobile physical damage insurance with an automobile sale and financing must get a written acknowledgment from the buyer, follow the insurance commissioner’s prescribed form, and give the buyer a copy.

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Jurisdiction: United States — Kansas
Instrument: Act or statute
Version: Undated source snapshot
Language: en
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auto insurance dealer compliance vehicle financing

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Provisions of Kansas Statutes § 40-299 Sale of physical damage insurance in connection with sale and financing of automobile; acknowledgment by purchaser, form; suspension, or revocation of license.

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Kansas Statutes § 40-299 Sale of physical damage insurance in connection with sale and financing of automobile; acknowledgment by purchaser, form; suspension, or revocation of license.
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AI-assisted research summary: A dealer or related insurance agent selling automobile physical damage insurance with an automobile sale and financing must get a written acknowledgment from the buyer, follow the insurance commissioner’s prescribed form, and give the buyer a copy.

40-299. Sale of physical damage insurance in connection with sale and financing of automobile; acknowledgment by purchaser, form; suspension, or revocation of license. Whenever any dealer, or any agent, officer or employee of such dealer, who also is an insurance agent, as defined by K.S.A. 40-239, shall provide only for automobile physical damage insurance in connection with the sale and financing of an automobile, such dealer, agent, officer or employee also must obtain a written acknowledgment by the purchaser of the automobile that the insurance coverage so provided for such automobile does not include automobile liability insurance sufficient to fulfill the requirements of the Kansas automobile injury reparations act. Such acknowledgment shall be made in the manner and form prescribed by the commissioner of insurance, and a copy thereof shall be furnished the purchaser. The insurance agent's license of any such dealer, agent, officer or employee who fails to obtain the acknowledgment required herein shall be subject to suspension or revocation by the commissioner pursuant to the provisions of K.S.A. 40-242. History: L. 1972, ch. 178, § 2; L. 1974, ch. 187, § 1; July 1.

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Kansas Statutes § 40-299 Sale of physical damage insurance in connection with sale and financing of automobile; acknowledgment by purchaser, form; suspension, or revocation of license.

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Provisions of Kansas Statutes § 40-299 Sale of physical damage insurance in connection with sale and financing of automobile; acknowledgment by purchaser, form; suspension, or revocation of license.

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