{"code":"INS","codeName":"Insurance Code","section":"922.3","citation":"Ins. Code, § 922.3","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 1. GENERAL RULES GOVERNING INSURANCE [100. - 1879.8.]","url":"https://blackletter.si/insurance-code/division-1"},{"name":"PART 2. THE BUSINESS OF INSURANCE [680. - 1879.8.]","url":"https://blackletter.si/insurance-code/division-1/part-2"},{"name":"CHAPTER 1. General Regulations [680. - 1113.]","url":"https://blackletter.si/insurance-code/division-1/part-2/chapter-1"},{"name":"ARTICLE 10. Financial Statements of Insurers [900. - 925.4.]","url":"https://blackletter.si/insurance-code/division-1/part-2/chapter-1/article-10"}],"history":"Amended by Stats. 1996, Ch. 840, Sec. 6.   Effective January 1, 1997.","effective":"1997-01-01","html":"<p>Notwithstanding any other provision of law, credit for reinsurance, as either an asset or a deduction, shall not be allowed in any accounting or financial statement of the ceding insurer in respect to any so-called reinsurance contract unless, in such contract, the reinsurer undertakes to indemnify the ceding insurer, not only in form but in fact, against all or a part of the loss or liability arising out of the original insurance.</p>","text":"Notwithstanding any other provision of law, credit for reinsurance, as either an asset or a deduction, shall not be allowed in any accounting or financial statement of the ceding insurer in respect to any so-called reinsurance contract unless, in such contract, the reinsurer undertakes to indemnify the ceding insurer, not only in form but in fact, against all or a part of the loss or liability arising out of the original insurance.","otherVersions":[],"url":"https://blackletter.si/insurance-code/financial-statements-of-insurers-922-3","source":"California Legislative Information bulk export (pubinfo)"}