(1) The international insurer may reinsure its risks, or any part thereof, with any insurer or other person, by contract or transaction transferring or protecting against the risk, and in such a case said contract shall be accounted for as a deduction from liabilities, pursuant to the provisions of Article 5.060(2) of this Code.\n(2) Section 413 of this title shall apply to the international insurer.\nHistory —Ins. Code, added as § 61.130 on Sept. 22, 2004, No. 399, § 1, eff. 180 days after Sept. 22, 2004.
Puerto Rico Legal Code