2006 Utah Code - 31A-37-303 — Reinsurance.

     31A-37-303.   Reinsurance.
     (1) A captive insurance company may provide reinsurance, as authorized in this title, on risks ceded by any other insurer.
     (2) (a) A captive insurance company may take credit for reserves on risks or portions of risks 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 insurance company 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

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