Reinsurance credit for certain insurers limited to risks in foreign or alien jurisdictions

Credit shall be allowed if the reinsurance is ceded to an assuming insurer not meeting the requirements of § 58-14-8 , 58-14-9 , 58-14-10 , 58-14-11 , or 58-14-16.1 but only with respect to the insurance of risks located in foreign or alien jurisdictions where the reinsurance is required by applicable law or regulation of that jurisdiction. Source: SL 1992, ch 344 , § 8; SL 2017, ch 211 , § 8.