1. Except as provided in section 3607, subsection 1, an insurer shall not retain liability as to any one risk in an amount
exceeding 10% of its surplus and in addition 8% of the amount at any time due on its premium notes.
[
1975, c. 124, (AMD)
.]
2. Valid reinsurance ceded by the insurer and then in force shall be deducted from the gross risk assumed in determining net
risk retained.
[
1969, c. 132, §1 (NEW)
.]
SECTION HISTORY
1969, c. 132, §1 (NEW).
1975, c. 124, (AMD).
Data for this page extracted on 11/09/2009 11:20:25.