§ 31A-37-303. Reinsurance.

Latest version.

(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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