LLM3450 - Equalisation reserves for corporate and partnership members: cessations
If the corporate or partnership member leaves the Lloyd바카라 사이트™s market, the whole of the equivalent Lloyd바카라 사이트™s reserve will be transferred out immediately before the cessation of underwriting (see LLM4230 or LLM5320) and be treated as a receipt of the final year of trading.
In any other situation, the reserves will run down naturally through the operation of the reserve maximum.