Resolution Of Compliance (Where Abandoned Property Is Not Found) Template printable pdf download

Resolution Of Compliance (Where Abandoned Property Is Not Found) Template

UNCLAIM ED PROPERTY ACT

RESOLUTION OF COMPLIANCE

{WHERE ABANDONED PROPERTY IS NOT FOUND}

Pursuant to K.S.A. 58-3963(b), the Board of Directors of ___________________________________________, on

_______________________, hereby adopts the following resolution:

WHEREAS: K.S.A. 58-3963(b) authorizes the State Treasurer to examine the records of any insurance

company to determine whether that company has complied with the requirements of the Unclaimed

Property Act.

WHEREAS:

Such examination powers will not apply to any insurance company which provides a resolution from its

Board of Directors certifying compliance with the Act, unless one of the companies’ supervisory

agencies notifies the State Treasurer of non-compliance.

WHEREAS:

The company has reviewed the following types of property in its possession to determine whether that

property is “abandoned”:

Premium refunds

Agent credit balances

Individual or Group Claim drafts

Matured annuities, policies, or endowment

Death Benefits

Unidentified remittances

Other entitlements under policy terms

WHEREAS:

The Board has determined that for the period beginning January 1, _____ and ending December 31, ____

the company has no abandoned property in its possession and hereby reports that fact to the State

Treasurer.

IT IS THEREFORE RESOLVED and certified that __________________________________ is in compliance with

the provisions of the Kansas Unclaimed Property Act.

___________________

__________________________________________________________

(Date)

(Authorized Signature)

Resolution Of Compliance (Where Abandoned Property Is Not Found) Template