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Rule Title: ASSUMING INSURER - FINANCIAL REPORTING
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Department: STATE AUDITOR
Chapter: INSURANCE DEPARTMENT
Subchapter: Credit for Reinsurance
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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6.6.3862    ASSUMING INSURER - FINANCIAL REPORTING

(1) A trust agreement may be used to reduce any liability for reinsurance ceded to an unauthorized assuming insurer in financial statements required to be filed with the department in compliance with the provisions of this rule when established on or before the date of filing of the financial statement of the ceding insurer. Further, the reduction for the existence of an acceptable trust account must be equal to the current fair market value of acceptable assets available to be withdrawn from the trust account at that time, but such reduction shall be no greater than the specific obligations under the reinsurance agreement that the trust account was established to secure.

 

History: 33-1-313, 33-2-1517, MCA; IMP, 33-2-1217, MCA; NEW, 2016 MAR p. 2186, Eff. 11/26/16.


 

 
MAR Notices Effective From Effective To History Notes
6-226 11/26/2016 Current History: 33-1-313, 33-2-1517, MCA; IMP, 33-2-1217, MCA; NEW, 2016 MAR p. 2186, Eff. 11/26/16.
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