Every insurer authorized to issue policies in this state may reinsure in any other insurer any part or all of any risk or risks assumed by it; but such reinsurance, unless effected with an insurer authorized to issue policies in this state and subject to the payment of the tax thereon, shall not operate to permit any reduction of taxes through reinsurance effected with an insurer not authorized to issue policies in this state.Codes, 1892, § 2341; 1906, § 2607; Hemingway's 1917, § 5070; 1930, § 5181; 1942, § 5691.
Mississippi Legal Code