Ala. Admin. Code r. 482-1-085-.06

Current through Register Vol. 43, No. 1, October 31, 2024

Section 482-1-085-.06 - Existing Agreements

Insurers subject to this chapter shall reduce to zero by December 31, 1997, any reserve credits or assets established with respect to reinsurance agreements entered into prior to the effective date of this chapter which, under the provisions of this chapter would not be entitled to recognition of the reserve credits or assets; provided, however, that the reinsurance agreements shall have been in compliance with laws or regulations in existence immediately preceding the effective date of this chapter.

Author: Commissioner of Insurance

Effective October 20, 1988. Revised: July 5, 1994; effective July 15, 1994. Revised: December 20, 1996; effective January 1, 1997. Filed for codification in the Alabama Administrative Code by the Department of Insurance on July 5, 2005, pursuant to the Code of Ala. 1975, § 27-7-43.

Statutory Authority:Code of Ala. 1975, § 27-2-17.