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Section 58-14-1 - "Reinsurance" defined. - 58-14-1. Reinsurance defined. "Reinsurance" is a contract under which an...
Section 58-14-3 - Risk limits applicable. - 58-14-3. Risk limits applicable. An insurer may only reinsure risks...
Section 58-14-4 - Credit not allowable as an asset or deduction from liability to ceding insurer--Exceptions--Payments. - 58-14-4. Credit not allowable as an asset or deduction from...
Section 58-14-4.1 - Association election to succeed to rights and obligations of insolvent insurer under reinsurance contract--Reinsurer's liability to pay claims. - 58-14-4.1. Association election to succeed to rights and obligations of...
Section 58-14-4.2 - Liquidator of insolvent ceding insurer to provide notice to reinsurer of claim against ceding insurer--Investigation and election to interpose defense. - 58-14-4.2. Liquidator of insolvent ceding insurer to provide notice to...
Section 58-14-5 - Reinsurance contracts filed by ceding insurer--Cancellation or material change, duty to inform director. - 58-14-5. Reinsurance contracts filed by ceding insurer--Cancellation or material change,...
Section 58-14-6 - Original insured--No interest in reinsurance. - 58-14-6. Original insured--No interest in reinsurance. The original insured has...
Section 58-14-7 - Credit for reinsurance allowed for domestic ceding insurer as asset or reduction. - 58-14-7. Credit for reinsurance allowed for domestic ceding insurer as...
Section 58-14-8 - Credit allowed for reinsurance if assuming insurer licensed in state. - 58-14-8. Credit allowed for reinsurance if assuming insurer licensed in...
Section 58-14-9 - Requirements for reinsurer to be accredited. - 58-14-9. Requirements for reinsurer to be accredited. Credit shall be...
Section 58-14-10 - A lien assuming insurer--Standards--Surplus required--Examination of records. - 58-14-10. A lien assuming insurer--Standards--Surplus required--Examination of records. Credit shall...
Section 58-14-11 - Credit for reinsurance ceded to insurer maintaining trust fund for payment of valid claims--Annual report of assuming insurer. - 58-14-11. Credit for reinsurance ceded to insurer maintaining trust fund...
Section 58-14-11.1 - Trust fund requirements for single assuming insurer. - 58-14-11.1. Trust fund requirements for single assuming insurer. The trust...
Section 58-14-12 - Trust fund requirements for group of incorporated underwriters. - 58-14-12. Trust fund requirements for group of incorporated underwriters. In...
Section 58-14-12.1 - Trust fund requirements for group including incorporated and individual unincorporated underwriters. - 58-14-12.1. Trust fund requirements for group including incorporated and individual...
Section 58-14-13 - Establishment of trust--Annual report of balance and investments--Certification of termination of trust. - 58-14-13. Establishment of trust--Annual report of balance and investments--Certification of...
Section 58-14-14 - Reinsurance credit for certain insurers limited to risks in foreign or alien jurisdictions. - 58-14-14. Reinsurance credit for certain insurers limited to risks in...
Section 58-14-15 - Allowance of credit for certain insurers not licensed, certified, or accredited in state. - 58-14-15. Allowance of credit for certain insurers not licensed, certified,...
Section 58-14-16 - Asset or reduction from liability for reinsurance ceded to insurer not meeting requirements of § 58-14-7--Security. - 58-14-16. Asset or reduction from liability for reinsurance ceded to...
Section 58-14-16.1 - Credit allowed for reinsurance ceded to certified reinsurer. - 58-14-16.1. Credit allowed for reinsurance ceded to certified reinsurer. Credit...
Section 58-14-16.2 - Eligibility for certification as reinsurer. - 58-14-16.2. Eligibility for certification as reinsurer. In order to be...
Section 58-14-16.3 - Eligibility for certification of association including incorporated and individual unincorporated underwriters. - 58-14-16.3. Eligibility for certification of association including incorporated and individual...
Section 58-14-16.4 - List of qualified jurisdictions from which domiciled insurer eligible for consideration for certification. - 58-14-16.4. List of qualified jurisdictions from which domiciled insurer eligible...
Section 58-14-16.5 - Eligibility of non-United States domiciliary jurisdiction to be recognized as qualified jurisdiction. - 58-14-16.5. Eligibility of non-United States domiciliary jurisdiction to be recognized...
Section 58-14-16.6 - National Association of Insurance Commissioners' list of qualified jurisdictions. - 58-14-16.6. National Association of Insurance Commissioners' list of qualified jurisdictions....
Section 58-14-16.7 - Rating of certified reinsurer. - 58-14-16.7. Rating of certified reinsurer. The director shall assign a...
Section 58-14-16.8 - Obligations assumed from United States ceding insurers to be secured consistent with rating. - 58-14-16.8. Obligations assumed from United States ceding insurers to be...
Section 58-14-16.9 - Security required for domestic ceding insurer to qualify for full financial statement credit for reinsurance ceded to certified reinsurer. - 58-14-16.9. Security required for domestic ceding insurer to qualify for...
Section 58-14-16.10 - Trust accounts of certified reinsurer securing obligations as multibeneficiary trust. - 58-14-16.10. Trust accounts of certified reinsurer securing obligations as multibeneficiary...
Section 58-14-16.11 - Minimum trusteed surplus requirements. - 58-14-16.11. Minimum trusteed surplus requirements. The minimum trusteed surplus requirements...
Section 58-14-16.12 - Reduction in allowable credit for insufficient security. - 58-14-16.12. Reduction in allowable credit for insufficient security. With respect...
Section 58-14-16.13 - Terminated or suspended certification--Inactive status. - 58-14-16.13. Terminated or suspended certification--Inactive status. A certified reinsurer whose...
Section 58-14-16.14 - Applicant for certification certified as reinsurer in National Association of Insurance Commissioners accredited jurisdiction. - 58-14-16.14. Applicant for certification certified as reinsurer in National Association...
Section 58-14-16.15 - Inactive certified reinsurers. - 58-14-16.15. Inactive certified reinsurers. A certified reinsurer that ceases to...
Section 58-14-16.16 - Management and notice requirements regarding ceding insurer's reinsurance recoverables. - 58-14-16.16. Management and notice requirements regarding ceding insurer's reinsurance recoverables....
Section 58-14-16.17 - Diversification of ceding insurer's reinsurance program--Notice requirements. - 58-14-16.17. Diversification of ceding insurer's reinsurance program--Notice requirements. A ceding...
Section 58-14-16.18 - Qualified United States financial institution defined for purposes of subdivision 58-14-16(3). - 58-14-16.18. Qualified United States financial institution defined for purposes of...
Section 58-14-16.19 - Trust agreement conditions for assuming insurers not meeting certain requirements. - 58-14-16.19. Trust agreement conditions for assuming insurers not meeting certain...
Section 58-14-16.20 - Suspension or revocation of reinsurer' s accreditation or certification. - 58-14-16.20. Suspension or revocation of reinsurer' s accreditation or certification....
Section 58-14-16.21 - Credit for reinsurance during suspension or revocation. - 58-14-16.21. Credit for reinsurance during suspension or revocation. While a...
Section 58-14-16.22 - Fees. - 58-14-16.22. Fees. The fee for each required document included in...
Section 58-14-16.23 - Credit for reinsurance for reinsurers in reciprocal jurisdictions--Eligibility requirements. - 58-14-16.23. Credit for reinsurance for reinsurers in reciprocal jurisdictions--Eligibility requirements....
Section 58-14-16.24 - Credit for reinsurance for reinsurers in reciprocal jurisdictions--Capital and surplus requirements. - 58-14-16.24. Credit for reinsurance for reinsurers in reciprocal jurisdictions--Capital and...
Section 58-14-16.25 - Credit for reinsurance for reinsurers in reciprocal jurisdictions--Adequate assurances required. - 58-14-16.25. Credit for reinsurance for reinsurers in reciprocal jurisdictions--Adequate assurances...
Section 58-14-16.26 - Documents that must be provided to the division. - 58-14-16.26. Documents that must be provided to the division. An...
Section 58-14-16.27 - Prompt payment practices. - 58-14-16.27. Prompt payment practices. An assuming insurer under § 58-14-16.23...
Section 58-14-16.28 - List or reciprocal jurisdictions to be published. - 58-14-16.28. List or reciprocal jurisdictions to be published. The director...
Section 58-14-16.29 - List of assuming insurers. - 58-14-16.29. List of assuming insurers. The director shall timely create...
Section 58-14-16.30 - Assuming insurers that no longer meet one or more requirements. - 58-14-16.30. Assuming insurers that no longer meet one or more...
Section 58-14-16.31 - Procedure for denying statement credit. - 58-14-16.31. Procedure for denying statement credit. Before denying statement credit...
Section 58-14-16.32 - Assuming insurers in receivership. - 58-14-16.32. Assuming insurers in receivership. If subject to a legal...
Section 58-14-16.33 - Effective date for reinsurers in reciprocal jurisdictions. - 58-14-16.33. Effective date for reinsurers in reciprocal jurisdictions. Credit may...
Section 58-14-16.34 - Application of reciprocal jurisdiction laws. - 58-14-16.34. Application of reciprocal jurisdiction laws. Nothing in §§ 58-14-16.23...
Section 58-14-17 - Promulgation of rules. - 58-14-17. Promulgation of rules. The director may promulgate rules, pursuant...
Section 58-14-18 - Application of reinsurance provisions. - 58-14-18. Application of reinsurance provisions. This section applies to all...
Section 58-14-19 - "Substantially similar" defined. - 58-14-19. Substantially similar defined. For the purposes of this chapter,...
Section 58-14-20 - Disallowal of credit or deduction. - 58-14-20. Disallowal of credit or deduction. The director may not...
Section 58-14-21 - "Reinsurer" defined--Examination of reinsurer. - 58-14-21. Reinsurer defined--Examination of reinsurer. A reinsurer is an insurer...
Section 58-14-22 - Application of chapter. - 58-14-22. Application of chapter. The requirements of this chapter do...
Section 58-14-23 - "Qualified United States financial institution" defined for eligibility to act as fiduciary of a trust. - 58-14-23. Qualified United States financial institution defined for eligibility to...
Section 58-14-24 - Definition of terms. - 58-14-24. Definition of terms. Terms used in §§58-14-24 to 58-14-42,...
Section 58-14-25 - Persons not agents. - 58-14-25. Persons not agents. The following persons are not agents:...
Section 58-14-26 - License required to sell, solicit, negotiate, or place reinsurance. - 58-14-26. License required to sell, solicit, negotiate, or place reinsurance....
Section 58-14-27 - Agent or broker bond--Errors and omissions policy. - 58-14-27. Agent or broker bond--Errors and omissions policy. The director...
Section 58-14-28 - Refusal to license--Reasons. - 58-14-28. Refusal to license--Reasons. The director may refuse to license...
Section 58-14-29 - Written contract between agent or broker and insurer or reinsurer. - 58-14-29. Written contract between agent or broker and insurer or...
Section 58-14-30 - Records of reinsurance contracts. - 58-14-30. Records of reinsurance contracts. For at least ten years...
Section 58-14-31 - Insurer or reinsurer to employ only licensed agent or broker. - 58-14-31. Insurer or reinsurer to employ only licensed agent or...
Section 58-14-32 - Approval and filing of contract. - 58-14-32. Approval and filing of contract. The written contract with...
Section 58-14-33 - Additional provisions of contract. - 58-14-33. Additional provisions of contract. In addition to standards set...
Section 58-14-34 - Handling of reinsurer. - 58-14-34. Handling of reinsurer. If the contract permits the agent...
Section 58-14-35 - Restrictions on agent. - 58-14-35. Restrictions on agent. The agent may not: (1)Cede retrocessions...
Section 58-14-36 - Loss reserves--Actuary's opinion--Employee of agent or broker not to be appointed to reinsurer's board of directors. - 58-14-36. Loss reserves--Actuary's opinion--Employee of agent or broker not to...
Section 58-14-37 - Examination of agent or broker--Cost. - 58-14-37. Examination of agent or broker--Cost. Any person doing business...
Section 58-14-38 - Penalty for violation. - 58-14-38. Penalty for violation. Any agent or broker, insurer or...
Section 58-14-39 - Rights of third party. - 58-14-39. Rights of third party. Nothing contained in §§58-14-24 to...
Section 58-14-40 - Adoption of rules. - 58-14-40. Adoption of rules. The director may adopt rules pursuant...
Section 58-14-41 - Compliance with and application of §§ 58-14-24 to 58-14-42. - 58-14-41. Compliance with and application of §§58-14-24 to 58-14-42. No...
Section 58-14-42 - Qualified United States financial institution. - 58-14-42. Qualified United States financial institution. For the purposes of...
Section 58-14-43 - Restrictions on brokers connected to a firm or association. - 58-14-43. Restrictions on brokers connected to a firm or association....
Section 58-14-44 - Restrictions on who may act as agent. - 58-14-44. Restrictions on who may act as agent. No person,...