TITLE 27
Insurance

CHAPTER 27-1
Domestic Insurance Companies

SECTION 27-1-42


§ 27-1-42 Maximum amount of single risk.

No company organized under the laws of this state, other than a life insurance company, shall incur in any one risk a greater hazard than one-tenth ( 1/10) part of its capital and surplus if a stock company or of its net assets if a mutual company. Any risk incurred on or before June 18, 1991, which is not in compliance with the provisions in this section shall not be subject to the established limitations.

History of Section.
(P.L. 1991, ch. 348, § 2.)