SECTIONS 6070-6072 - California Statutes

INSURANCE CODE

SECTION 6070-6072

6070. Any such insurer may accept reinsurance under any agreement
for reinsurance between two or more county mutual fire insurers or
from any authorized insurer the stock of which is wholly owned by
county mutual insurers. In any such case the reinsurance accepted by
any one insurer shall not exceed the amount of risk retained by the
insurer originating the business.

6071. 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.

6072. The restrictions imposed by this chapter upon any insurer as
to original insurance shall apply to reinsurance written by it.