Security required for domestic ceding insurer to qualify for full financial statement credit for reinsurance ceded to certified reinsurer

In order for a domestic ceding insurer to qualify for full financial statement credit for reinsurance ceded to a certified reinsurer, the certified reinsurer shall maintain security in a form acceptable to the director and consistent with § 58-14-16 , or in a multibeneficiary trust in accordance with § 58-14-11 , except as otherwise provided in §§ 58-14-16.8 to 58-14-16.13 , inclusive. Source: SL 2017, ch 211 , § 20.