58-14-16.12. Reduction in allowable credit for insufficient security. With respect to obligations incurred by a certified reinsurer under §§ 58-14-16.8 to 58-14-16.13, inclusive, if the security is insufficient, the director shall reduce the allowable credit by an amount proportionate to the deficiency and has the discretion to impose further reductions in allowable credit upon finding that there is a material risk the certified reinsurer' s obligations may not be paid in full when due.
Source: SL 2017, ch 211, § 23.
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