A company organized under the laws of this state to do the business of life insurance, either on the stock, mutual, stipulated premium, or assessment plan, shall not consolidate with any other company or reinsure its risks, or any part of such risks, with any other company, or assume or reinsure the whole or any part of the risks of any other company, except as provided in this chapter. However, this chapter shall not be construed to prevent any company, as defined in section 521.1, from reinsuring a fractional part of any single risk.
[S13, § 1821-n; C24, 27, 31, 35, 39, § 9105; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 521.2]
95 Acts, ch 185, §42
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