§ 27-53.1-1 - Purpose.
SECTION 27-53.1-1
§ 27-53.1-1 Purpose. – This chapter provides for the regulation of the transfer and novation ofcontracts of insurance by way of assumption reinsurance. It defines assumptionreinsurance and establishes notice and disclosure requirements which protectand define the rights and obligations of policyholders, regulators, and theparties to assumption reinsurance agreements.