31A-37-303 - Reinsurance. - Utah Statutes

31A-37-303. Reinsurance.
(1) A captive insurance company may provide reinsurance, as authorized in this title, onrisks ceded by any other insurer.
(2) (a) A captive insurance company may take credit for reserves on risks or portions ofrisks ceded to reinsurers if the captive insurance company complies with Section 31A-17-404.
(b) Unless the reinsurer is in compliance with Section 31A-17-404, a captive insurancecompany may not take credit for:
(i) reserves on risks ceded to a reinsurer; or
(ii) portions of risks ceded to a reinsurer.

Enacted by Chapter 251, 2003 General Session