California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 3 - Insurers
Article 3 - Annual Statements
Premiums in Course of Collection
Section 2303.30 - Effective Date

Universal Citation: 10 CA Code of Regs 2303.30

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

(a) No licensee may claim reserve credit for a new or renewal reinsurance agreement executed on or after January 1, 2018, unless the agreement and any security provided therefor conform to the applicable requirements of this article.

(b) All reinsurance agreements and any security provided therefor that are executed prior to January 1, 2007 shall remain subject to the requirements of Bulletin 97-5 issued pursuant to Code Section 922.8. Bulletin 97-5 is incorporated herein by reference for that limited purpose.

(c) Licensees shall continue to conform to the requirements of the NAIC Accounting Guidance, to the extent that those requirements do not conflict with applicable requirements of the Code and Bulletin 97-5, or, after January 1, 2018, with this article.

(d) Sections 2303.23 to 2303.28 of this article shall pertain to all Covered Policies in force as of and after January 1, 2018.

1. Renumbering of former section 2303.23 to new section 2303.30, including amendment of section and NOTE, filed 11-27-2017; operative 1-1-2018 (Register 2017, No. 48).

Note: Authority cited: Sections 720, 730, 736, 739.9, 922.8, 922.85, 923, 924, 1011.5, 1215.9, 1781.12, 10489.94 and 12921, Insurance Code; CalFarm Insurance Company v. Deukmejian, 48 Cal. 3d 805 (1989); and 20th Century Insurance Company v. Garamendi, 8 Cal. 4th 216 (1994). Reference: Sections 700, 701, 717, 717.5, 730, 733, 736, 739, 900, 922.1, 922.2, 922.3, 922.4, 922.41, 922.5, 922.6, 922.7, 922.8, 922.85, 922.9, 923, 924, 925, 925.2, 925.4, 1011, 1011.5, 1215.5(b)(3), 1215.5(f), 1781.10, 10489.1, 10489.12, 10489.96 and 12921, Insurance Code.

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