North Dakota Administrative Code
Title 45 - Insurance, Commissioner of
Article 45-04 - Life Insurance
Chapter 45-04-11 - Reinsurance Transactions by Licensed Life Insurers
Section 45-04-11-03 - Financial statement exceptions

1. The agreements were executed and in force prior to October 1, 1989;

2. No new business is ceded under the agreements after October 1, 1989;

3. The reduction of the liability or the asset established for the reinsurance ceded is reduced to zero by December 31, 1992, or such later date approved by the commissioner as a result of an application made by the ceding insurer prior to December 31, 1989;

4. The reduction of the liability or the establishment of the asset is otherwise permissible under all other applicable provisions of the insurance law or rules, including actuarial interpretations or standards adopted by the department; and

5. The insurance department is notified, within sixty days following October 1, 1989, of the existence of such reinsurance agreements and all corresponding credits taken in the ceding insurer's 1988 annual statement.