(a) No title insurance company shall issue a policy of title insurance for a single transaction, the net primary retained liability under which shall exceed an amount which is equal to its assets, not including agency and escrow funds, less an amount equal to the sum of the minimum capital required by this article for a title insurance company, unearned premium reserve and the value of title plant, but nothing herein contained shall prevent any one or more of such title insurance companies from assuming the liability on a single policy jointly with another such title insurance company or title insurance companies in excess of this amount: Provided, That the total amount of such insurance shall not exceed the aggregate maximum net primary retentions of all title insurance companies liable under such insurance; and provided none of the title insurance companies exceeds the limit of its net primary retention for a single transaction.

(b) No title insurance company shall issue a policy of title insurance for a single transaction under which its primary liability as coinsurer shall exceed the limit of net primary retention prescribed in subsection (a) of this section.

(c) No title insurance company shall issue a policy of title insurance for a single transaction under which its secondary liability as reinsurer shall exceed the limit of net primary retention prescribed in subsection (a) of this section: Provided, That if the ceding company or companies retain primary liability at least equal to ten per cent of the total amount at risk, a title insurance company may issue a policy of reinsurance for a single transaction under which its secondary liability exceeds the limit of net primary retention prescribed in subsection (a): Provided, That the total amount of its secondary liability for a single transaction shall not exceed an amount which is equal to its assets, not including agency or escrow funds, less an amount equal to the sum of the unearned premium reserve and the value of title plant. Nothing herein contained shall prevent any one or more title insurance companies from assuming the liability on a single policy jointly with another title insurance company or other title insurance companies in excess of this amount: Provided, That the total amount of such insurance shall not exceed the aggregate maximum net retentions of all such title insurance companies liable under such insurance; and provided none of the title insurance companies exceeds the limit of its net retention for a single transaction.