58-46-21Ceding or taking credit for reserves.

Any captive insurance company may take credit for reserves on risks or portions of risks ceded to reinsurers complying with provisions of chapter 58-14 or 58-46. Prior approval of the director shall be required for ceding or taking credit for reserves on risks or portions of risks ceded to reinsurers not complying with chapter 58-14 or 58-46.

Source: SL 1996, ch 287, § 21; SL 2013, ch 257, § 18.