38.2-1316.8 - Reinsurance agreements affected. - Virginia Statutes

§ 38.2-1316.8. Reinsurance agreements affected.

A. The provisions of this article shall apply to all cessions after theeffective date of this article under reinsurance agreements which have had aninception, anniversary or renewal date not less than six months after July 1,1991.

B. Credits for cessions under reinsurance agreements in force on July 1,1991, or commenced within six months thereafter shall be governed by therequirements for such credits in effect on June 30, 1991, until the firstoccurring anniversary or renewal date after December 31, 1991.

(1991, c. 264.)