Common Contracts
1 similar null contracts
ELEVENTH AMENDMENT TO REGULATION 20 (11 NYCRR 125)October 17th, 2007
All reinsurance agreements executed after September 1, 1952 must conform to the requirements of subsection 1 of section 77, now section 1308(a) of the Insurance Law, as amended by chapter 171 of the Laws of 1952, if credit is to be given to the ceding insurer for such reinsurance. With respect to reinsurance agreements (treaty, facultative or otherwise) made on, or prior to, September 1, 1952, unless the original agreements conform to such requirements, no credit will be given to the ceding insurer for reinsurance made, ceded, renewed or otherwise becoming effective thereunder after the said date, unless the agreements are amended by supplemental contracts reading substantially as follows:
