20-1088. Limit of risk
Domestic life and disability reinsurers may be formed, with capital and surplus as specified in sections 20-1085 and 20-1086 to accept any risk as a reinsurer under which the maximum possible benefits payable on the death or on the disability of any one insured shall not exceed five thousand dollars if the excess over three thousand dollars is reinsured by noncancellable reinsurance authorized under section 20-261. When the reinsurer's paid-in capital reaches one hundred thousand dollars, the reinsurer may reinsure risks without the restrictions of this section and may reinsure as otherwise provided for pursuant to this title. Any risk accepted pursuant to this section shall be a risk under which the ceding life or disability insurer remains liable for the payment of all policyholder claims.
Section: Previous 20-1081 20-1082 20-1083 20-1084 20-1085 20-1086 20-1087 20-1088 20-1089 20-1090 20-1091 20-1092 20-1093 20-1094 20-1094.01 NextLast modified: October 13, 2016