(1) These rules implement the statutory provisions allowing for credit for reinsurance. Credit for reinsurance is allowed only where a method set out in statute has been followed, including the following methods:

(a) assuming insurer is licensed in Montana, as provided in 33-2-1216(2), MCA;

(b) assuming insurer is accredited in Montana, as provided in 33-2-1216(3), MCA;

(c) assuming insurer is domiciled, and licensed in, or entered through another state with standards regarding credit for reinsurance substantially similar to those of this state, as provided in 33-2-1216(4), MCA;

(d) assuming insurer maintains a trust fund, as provided in 33-2-1216(5), MCA;

(e) assuming insurer is certified by the commissioner, as provided in 33-2-1216(5)(e), MCA; or

(f) assuming insurer does not meet the requirements of 33-2-1216, MCA, but the commissioner approves reduction from liability in the amount of funds held by, or on behalf of, the ceding insurer pursuant to 33-2-1217, MCA.