- (a) This part shall apply to reinsurance treaties that cede liabilities pertaining to covered policies, as that term is defined in 23 CAR § 154-104(2), issued by any life insurance company domiciled in this state.
- (b) This part and Credit for Reinsurance, 23 CAR pt. 25, shall both apply to such reinsurance treaties, provided that, in the event of a direct conflict between the provisions of this part and Credit for Reinsurance, the provisions of this part shall apply, but only to the extent of the conflict.