As used in K.S.A. 40-2b28:
- (a) "Medium grade obligations" means obligations which are designated "3" by the national association of insurance commissioners in its most recently published valuations of securities manual.
- (b) "Lower grade obligations" means obligations which are designated "4," "5" or "6" by the national association of insurance commissioners in its most recently published valuations of securities manual.
- (c) "Admitted assets" means the amount shown on the insurer's last annual report as filed with the state commissioner of insurance.
- (d) "Aggregate amount" of medium grade and lower grade obligations means the aggregate statutory statement value thereof.
- (e) "Institution" means a corporation, a joint-stock company, an association, a trust, a business partnership, a business joint venture or similar entity.
- (f) "Insurance company" or "insurer" means any life insurance company organized under the laws of this state.
L. 1992, ch. 121, § 3; July 1.