Ceding 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.