Sec. 69.4. Limitations under reinsurance contracts

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For policies issued prior to January 11, 1995, the mortgage insurer shall cede any risk in excess of 25 percent of the entire indebtedness on an individual loan. The assuming insurer to a reinsurance agreement under a pool insurance policy must be authorized to do business in New York State and shall be subject to the same limitations and restrictions on its portion of retention or assumed insurance writings as the direct writer.

                    
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