§ 27-17-22 - Maximum liability on policy.
SECTION 27-17-22
§ 27-17-22 Maximum liability on policy.– No reciprocal exchange or interinsurer shall issue or deliver any policyinsuring property or interests in this state, the liability on which shallexceed an amount equivalent to ten percent (10%) of its surplus, unless theexcess of liability over the ten percent (10%) is reinsured in a company whichmaintains financial standards at least equal to those required by the laws ofthis state.