56-21-127 - Premium rate or assessment paid to reinsuring company.
56-21-127. Premium rate or assessment paid to reinsuring company.
When any company subject to this chapter reinsures in another company the whole or a part of any risk it has outstanding by reason of the issuance of a policy of insurance, the company shall pay to the reinsuring company the regular rate or assessment that the company accepting the reinsurance may establish or require, and any money or assets of the state mutual fire insurance company shall be liable for the payment of the premium or assessment due.
[Acts 1925, ch. 85, § 3; Shan. Supp., § 3369a29b4; Code 1932, § 6282; T.C.A. (orig. ed.), § 56-2029.]