58-14-16.9. Security required for domestic ceding insurer to qualify for full financial statement credit for reinsurance ceded to certified reinsurer.
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/sd/title-58/chapter-58-14/58-14-16-9·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.