CHAPTER 27-53.1
Assumption Reinsurance

SECTION 27-53.1-1

§ 27-53.1-1. Purpose.

This chapter provides for the regulation of the transfer and novation of contracts of insurance by way of assumption reinsurance. It defines assumption reinsurance and establishes notice and disclosure requirements which protect and define the rights and obligations of policyholders, regulators, and the parties to assumption reinsurance agreements.

History of Section.
(P.L. 1996, ch. 188, § 21.)