1448d

Insurers subject to this subchapter shall reduce to zero no later than nine months following the effective date of this subchapter any reserve credits or assets established with respect to reinsurance agreements entered into prior to the effective date of this subchapter which, under the provisions of this subchapter would not be entitled to recognition of the reserve credits or assets; provided, however, that the reinsurance agreements shall have been in compliance with laws or regulations in existence immediately preceding the effective date of this subchapter.