40-3519. Reinsurance; establishment and maintenance of reserves in appropriate proportions by insurance company and reinsurer. - Kansas Statutes

40-3519

Chapter 40.--INSURANCE Article 35.--MORTGAGE GUARANTY INSURANCE COMPANIES

      40-3519.   Reinsurance; establishment and maintenance of reserves in appropriateproportions by insurance company and reinsurer.Whenever a mortgage guaranty insurance company obtains reinsurance froman insurance company which is properly licensed to provide reinsurance orfrom an appropriate governmental agency, the mortgage guaranty insurer andthe reinsurer shall establish and maintain the reserves required in thisact in appropriate proportions in relation to the risk retained by the originalinsurer and ceded to the assuming reinsurer so that the totalreserves established shall not be less than the reserves required by this act.

      History:   L. 1977, ch. 154, § 19; Jan. 1, 1978.