14 Va. Admin. Code § 5-300-160

Current through Register Vol. 41, No. 10, December 30, 2024

Section 14VAC5-300-160 - Contracts affected

All new and renewal reinsurance transactions entered into after December 31, 2012, shall conform to the requirements of the Act and this chapter if credit is to be given to the ceding insurer for such reinsurance. Unless otherwise provided in this chapter, credits for cessions under reinsurance agreements in force on July 1, 2012, or commenced within six months thereafter, shall be governed by the requirements for such credits in effect on June 30, 2012.

Derived from Regulation 43, Case No. INS910307, § 17, eff. March 1, 1992; amended, Virginia Register Volume 29, Issue 4, eff. January 1, 2013.

Statutory Authority

§§ 38.2-223, 38.2-1316.7 and 12.1-13 of the Code of Virginia.