58-35-46Risk limitation inapplicable to organization of county mutual insurers for reinsurance purposes.

The risk limitations set forth in §§ 58-35-35 and 58-35-36 shall not apply to reinsurance companies formed under § 58-35-45. All reinsurance contracts of such reinsurer shall be submitted to the director for his approval, and he shall disapprove any reinsurance contracts which he finds would be contrary to the interests of the policyholders of the ceding insurers.

Source: SL 1966, ch 111, ch 17, § 32.