Section 1103.50  Existing Agreements

On or before December 31, 2011, all insurers that are subject to this Part must be able to certify that they have reduced to zero any reserve credits or assets established with respect to reinsurance agreements entered into prior to December 31, 1994 that, under the provisions of this Part, would not be entitled to recognition of the reserve credits or established assets; however, the reinsurance agreements must have been in compliance with the laws and regulations in existence immediately preceding the effective date of this Part (January 5, 1994).

(Source:  Old Section repealed at 30 Ill. Reg. 7766, effective April 6, 2006 and new Section added at 35 Ill. Reg. 6182, effective March 28, 2011)