North Dakota § 26.1-31.2-02 Asset or reduction from liability for reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of section 26.1-31.2-01

North Dakota Statutes

§ 26.1-31.2-02 — Asset or reduction from liability for reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of section 26.1-31.2-01

North Dakota § 26.1-31.2-02

Title 26.1Insurance

Ch. 26.1-31.2Reinsurance Credit

This text of North Dakota § 26.1-31.2-02 (Asset or reduction from liability for reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of section 26.1-31.2-01) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 26.1-31.2-02 (2026).

Text

insurer to an assuming insurer not meeting the requirements of section 26.1-31.2-01.
An asset or reduction from liability for the reinsurance ceded by a domestic insurer to an
assuming insurer not meeting the requirements of section 26.1-31.2-01 must be allowed in an
amount not exceeding the liabilities carried by the ceding insurer. The reduction must be in the
amount of funds held by or on behalf of the ceding insurer, including funds held in trust for the
ceding insurer, under a reinsurance contract with the assuming insurer as security for the
payment of obligations thereunder, if the security is held in the United States subject to
withdrawal solely by, and under the exclusive control of, the ceding insurer; or, in the case of a
trust, held in a qualified United States financial insti

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insurer to an assuming insurer not meeting the requirements of section 26.1-31.2-01.
An asset or reduction from liability for the reinsurance ceded by a domestic insurer to an
assuming insurer not meeting the requirements of section 26.1-31.2-01 must be allowed in an
amount not exceeding the liabilities carried by the ceding insurer. The reduction must be in the
amount of funds held by or on behalf of the ceding insurer, including funds held in trust for the
ceding insurer, under a reinsurance contract with the assuming insurer as security for the
payment of obligations thereunder, if the security is held in the United States subject to
withdrawal solely by, and under the exclusive control of, the ceding insurer; or, in the case of a
trust, held in a qualified United States financial institution, as defined in subsection 2 of section