56-19-120 - Reinsurance Restrictions.
56-19-120. Reinsurance Restrictions.
Any such company organized or admitted to transact insurance in this state may reinsure any part or all of any risk or risks, in any insurance company or insurer licensed in this state; provided, that no such reinsurance shall be effected with any company or insurer not licensed in this state that has been disapproved by written order of the commissioner filed in the commissioner's office.
[Acts 1919, ch. 108, § 20; Shan. Supp., § 3369a58b27; Code 1932, § 6339; Acts 1949, ch. 146, § 1; C. Supp. 1950, § 6339; T.C.A. (orig. ed.), § 56-1720.]