Sec. 31.05.08.27. Mandatory Funding Clause

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In addition to the requirements of Regulations .14-.18 of this chapter, reinsurance contracts entered into or renewed under Regulations .24-.26 of this chapter shall include a funding clause, which requires the certified reinsurer to provide and maintain security in an amount sufficient to avoid the imposition of any unfavorable financial statement accounting treatment on the ceding insurer under this chapter for reinsurance ceded to the certified reinsurer.

                    
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