§ 6606. Reinsurance. (a) (1) Subject to the provisions of section six
thousand six hundred ten of this article, any co-operative
property/casualty insurance company shall have the power, whether or not
expressed in its charter, to accept reinsurance of the kind or kinds of
insurance it is licensed to do directly, and to cede reinsurance subject
to applicable provisions of section one thousand three hundred eight of
this chapter.

(2) Unless otherwise permitted by the superintendent, an assessment
corporation may assume reinsurance only from other authorized assessment
corporations but may cede reinsurance to any other licensed insurer if
such insurer is authorized to reinsure such kind or kinds of insurance
in this state or to an accredited reinsurer, as defined in subsection
(a) of section one hundred seven of this chapter.

(3) Any co-operative property/casualty insurance company may assume
reinsurance on property located wholly or partially without the
territory in which it is licensed to do a direct writing business
provided, however, that an assessment corporation may only assume
reinsurance on property located in the state of New York with the
exception of the counties of New York, Kings, Queens, Bronx and
Richmond.

(b) Every assessment corporation doing business as a direct writer,
which assumes reinsurance, may, in levying assessments on its members,
assess ceding insurer members as a separate group on the basis of actual
or estimated experience in that classification.