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     60B.36 Reinsurer's liability.  


    The amount recoverable by the liquidator from a reinsurer 
 shall not be reduced as a result of delinquency proceedings, 
 regardless of any provision in the reinsurance contract or other 
 agreement.  Payment made directly to an insured or other 
 creditor shall not diminish the reinsurer's obligation to the 
 insurer's estate except when the reinsurance contract provided 
 for direct coverage of an individual named insured and the 
 payment was made in discharge of that obligation.  


    HIST: 1969 c 708 s 36

Official Publication of the State of Minnesota
Revisor of Statutes