Ga. Code § 33-14-103

Current through 2023-2024 Legislative Session Chapter 709

Section 33-14-103 - Powers of limited purpose subsidiary

A limited purpose subsidiary that is granted a certificate of authority by the Commissioner under this article:

(1) Is wholly owned by the organizing domestic reinsurer;

(2) Is authorized to engage in the business of reinsurance only for the lines of insurance for which the organizing domestic reinsurer is authorized;

(3) May reinsure only risks of the organizing domestic reinsurer; and

(4) May access alternative forms of financing.

OCGA § 33-14-103

Added by 2011 Ga. Laws 111,§ 1, eff. 7/1/2011.