23 CAR § 106-105 – Existing agreements

(a) Insurers subject to this part shall reduce to zero (0) by December 31, 1997, any reserve credits or assets established with respect to reinsurance agreements entered into prior to the effective date of this part that, under the provisions of this part, would not be entitled to recognition of the reserve credits or assets.
(b) Provided, however, that the reinsurance agreements shall have been in compliance with laws or rules in existence immediately preceding the effective date of this part.