Statute · California Insurance Code
Cal. Ins. Code § 922.3 — Financial Statements of Insurers
Cal. Ins. Code § 922.3
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Date
- 1997-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Notwithstanding any other provision of law, credit for reinsurance, as either an asset or a deduction, shall not be allowed in any accounting or financial statement of the ceding insurer in respect to any so-called reinsurance contract unless, in such contract, the reinsurer undertakes to…
Citator
Cal. Ins. Code § 922.3 — Financial Statements of Insurers is in force in the current edition of the Code, and nothing recorded condemns it.
Notwithstanding any other provision of law, credit for reinsurance, as either an asset or a deduction, shall not be allowed in any accounting or financial statement of the ceding insurer in respect to any so-called reinsurance contract unless, in such contract, the reinsurer undertakes to indemnify the ceding insurer, not only in form but in fact, against all or a part of the loss or liability arising out of the original insurance.