In the event any insurance company writing Life and/or Health and Accident or Hospitalization Insurance in connection with loans made under the Georgia Industrial Loan Act shall reinsure its liability under such policies, such direct writing company shall, notwithstanding such reinsurance, maintain the reserve required by this regulation, as if such reinsurance contract had not been entered upon and shall, notwithstanding such reinsurance contract or treaty, continue primarily responsible on all life and/or Health and Accident or Hospitalization Insurance issued in connection with such loans.

Authority: Ga. Laws 1960, p. 289, pp. 305 and 750, as amended.