Case Notes
Mentioned: 74 H. 85, 839 P.2d 10.
§431:20-117 Reinsurance. (a) A title insurer may obtain reinsurance for all or any part of its liability under one or more of its title insurance policies or reinsurance agreements, and may also reinsure title insurance policies issued by other title insurers on risks located in this State or elsewhere. Reinsurance on policies issued on properties located in this State must be obtained from title insurers authorized to transact title insurance business in this State.
(b) Upon application by a title insurer, the commissioner may permit the insurer to obtain reinsurance from an unauthorized title insurer upon the following conditions:
(1) The title insurer is unable to obtain reinsurance from a title insurer authorized to transact title insurance business in this State; and
(2) The capital and surplus of the unauthorized title insurer meets the requirements for authorized companies under section 431:20-107. [L 1987, c 347, pt of §2]
Section: Previous 431-20-110.5 431-20-111 431-20-112 431-20-113 431-20-114 431-20-115 431-20-116 431-20-117 431-20-118 431-20-119 431-20-120 431-20-121 431-20-122 431-20-123 431-20-124 NextLast modified: October 27, 2016