California Insurance Code

§ 6071

INS § 6071Div. 2 · Part 1 · Ch. 5 · Art. 6

Statute text

Any such insurer may cede reinsurance provided the amount retained by the originating insurer shall be not less than 10 percent nor less than five hundred dollars ($500); provided, however, that the minimum required hereunder shall never exceed six thousand dollars ($6,000). The applicable provisions of Sections 922.1 to 922.8 inclusive shall govern for the purposes of testing the solvency and preparing the annual statement of the ceding insurer.

Legislative history

Amended by Stats. 1953, Ch. 468.