20-3601. Definitions of qualified United States financial institution A. For the purposes of section 20-3603, subsection B, paragraph 3, " qualified United States financial institution" means an institution that both: 1. Is: (a) Organized or, in the case of a United States office of a foreign banking organization, is licensed under the laws of the […]
20-3602. Credit allowed a domestic ceding insurer; definition A. A domestic ceding insurer shall be allowed a credit for reinsurance as either an asset or a reduction from liability on account of reinsurance ceded only when the reinsurer meets the requirements of subsection C, D, E, F, G, H or M of this section. The […]
20-3603. Asset or reduction from liability for reinsurance ceded by a domestic insurer to an assuming insurer A. An asset or a reduction from liability for the reinsurance ceded by a domestic insurer to an assuming insurer that does not meet the requirements of section 20-3602 shall be allowed in an amount not exceeding the […]
20-3604. Rules A. The director may adopt rules pursuant to title 41, chapter 6 to carry out this article. B. The rules may include regulation of reinsurance arrangements relating to any of the following: 1. Life insurance policies with guaranteed nonlevel gross premiums or guaranteed nonlevel benefits. 2. Universal life insurance policies with provisions resulting […]
20-3605. Reinsurance agreements affected This article applies to all cessions after September 29, 2021 under reinsurance agreements that have an inception, anniversary or renewal date not less than six months after September 29, 2021.
