40-1026. Reinsurance of risks; assessment.
40-1026
40-1026. Reinsurance of risks; assessment.The directors of a company organized under this article may reinsure itsrisks, whenever they deem it for the best interest of the company, by firstobtaining the consent of the commissioner of insurance, and shall make anassessment to pay for the reinsuring of its risks as above provided; but ifthe company has a guarantee fund, the deposit notes shall not be assessedto reinsure policies, premiums for which have been paid in cash.
History: L. 1927, ch. 231, 40-1026; June 1.