20-1558. Miscellaneous reserves
A. If the laws of any other jurisdiction in which a mortgage guaranty insurance
company, subject to the requirement of this article is also licensed to transact mortgage
guaranty insurance, require a larger unearned premium reserve or contingency reserve in
the aggregate than that set forth in this article, the establishment of such larger
unearned premium reserve or contingency reserve in the aggregate shall be deemed to be in
compliance with this article.
B. Unearned premium reserves and contingency reserves shall be computed and
maintained on risks insured after the effective date of this article as required by
sections 20-1554 and 20-1556. Unearned premium reserves and contingency reserves on
risks insured before the effective date of this article may be computed and maintained as
required previously.
|