Section 3623 - Limit of risk1. Except as provided in section 3607, subsection 1, an insurer shall not retain liability as to any one risk in an amount exceeding 10% of its surplus and in addition 8% of the amount at any time due on its premium notes. [1975, c. 124(AMD).]
2. Valid reinsurance ceded by the insurer and then in force shall be deducted from the gross risk assumed in determining net risk retained. [1969, c. 132, §1(NEW).]
1969, c. 132, § 1 (NEW) . 1975, c. 124, (AMD) .