Section 33-5-501 - Insuring powers of reciprocals(1) A reciprocal insurer may, upon qualifying therefor as provided for by this code, transact any kind or kinds of insurance defined by this code, other than life or title insurances.(2) Such an insurer may purchase reinsurance and may grant reinsurance as to any kind of insurance it is authorized to transact.En. Sec. 541, Ch. 286, L. 1959; R.C.M. 1947, 40-5004.