20-1574. Power to reinsure
A. Any title insurer authorized to engage in the business of title insurance in
this state may cede reinsurance of all or any part of its liability under one or more of
its title insurance policies to any title insurer authorized to engage in the business of
title insurance in this or any other state, provided, however, that no larger amount of
reinsurance shall be ceded to any title insurer on a single policy of title insurance, or
on any single title insurance risk, than such title insurer would be permitted to retain
if authorized to engage in the business of title insurance in this state.
B. Any title insurer authorized to do business in this state may also reinsure
policies of title insurance issued by other companies on risks whether located in this
state or elsewhere.
C. Issuance of contracts of reinsurance by a title insurer not authorized to engage
in the business of title insurance in this state, but authorized to engage in the
business of title insurance in any of the United States, reinsuring a title insurer
authorized to engage in the business of title insurance in this state on real property
located in this state, shall not of itself constitute the doing of business in this state
by such reinsurer.
D. No agreement by any domestic title insurer for the reinsurance of all or
substantially all its business in force shall be effective unless it shall comply with
the provisions of section 20-732.
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