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(1) Except as otherwise provided in this title, this chapter and the rules adopted to implement it apply to all insurers authorized to do business in this state, including a reinsurer.
(2) As used in this chapter, "cash" means a medium of exchange that a depository institution, as defined in Section 7-1-103, accepts for deposit and allows an immediate credit to an account in the depository institution, including the following in a depository institution:
(a) a savings account; or
(b) a certificate of deposit with a maturity date within one year or less from the day on which the certificate of deposit is acquired.