Georgia § 33-14-103 Powers of limited purpose subsidiary

Georgia Statutes

§ 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.

Free access — add to your briefcase to read the full text and ask questions with AI

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.

Georgia § 33-14-103 (Powers of limited purpose subsidiary) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.