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Insurance Code | |
Captive Insurance Companies Act | |
Section 303 | Reinsurance. |
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31A-37-303. Reinsurance. (1) A captive insurance company may provide reinsurance, as authorized in this title, on risks ceded by any other insurer. (2) (a) A captive insurance company may take credit for reserves on risks or portions of risks ceded to reinsurers if the captive insurance company complies with Section 31A-17-404. (b) Unless the reinsurer is in compliance with Section 31A-17-404, a captive insurance company may not take credit for: (i) reserves on risks ceded to a reinsurer; or (ii) portions of risks ceded to a reinsurer.
Enacted by Chapter 251, 2003 General Session |
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