                                 CODE OF VIRGINIA

REINSURANCE (§ 38.2-3922)

Any mutual assessment life, accident and sickness insurer may reinsure the whole
or any part of its risks with any solvent insurer licensed in this Commonwealth
or licensed in any other state having standards of solvency, at least equal to
those required in this Commonwealth. However, the reinsurance shall be ceded
without contingent liability on the part of the reinsured insurer. Any mutual
assessment life, accident and sickness insurer having a surplus in excess of
$800,000 may accept or assume reinsurance from any licensed insurer.

HISTORY: 1985, c. 400, § 38.1-549.23; 1986, c. 562.