Georgia § 33-14-109 Adoption of rules

Georgia Statutes

§ 33-14-109 — Adoption of rules

Georgia § 33-14-109

Title33

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Bluebook

O.C.G.A. § 33-14-109 (2026).

Text

(a)The Commissioner shall, before approving a limited purpose subsidiary under this article, adopt rules pursuant to Code Section 33-2-9 to implement this article.

(b)The rules adopted under subsection (a) of this Code section shall address, but not be limited to, the following concerning limited purpose subsidiaries:

(1)Requirements for organization of a limited purpose subsidiary;

(2)Requirements for a plan of operation;

(3)Capital, surplus, and risk-based capital requirements;

(4)Requirements for reporting and notifications;

(5)Requirements for reserves, including actuarial certification;

(6)Requirements for authorized investments;

(7)Requirements with respect to reinsurance ceded or assumed by the limited purpose subsidiary;

(8)Requirements and restrictions for material trans

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(a) The Commissioner shall, before approving a limited purpose subsidiary under this article, adopt rules pursuant to Code Section 33-2-9 to implement this article. (b) The rules adopted under subsection (a) of this Code section shall address, but not be limited to, the following concerning limited purpose subsidiaries: (1) Requirements for organization of a limited purpose subsidiary; (2) Requirements for a plan of operation; (3) Capital, surplus, and risk-based capital requirements; (4) Requirements for reporting and notifications; (5) Requirements for reserves, including actuarial certification; (6) Requirements for authorized investments; (7) Requirements with respect to reinsurance ceded or assumed by the limited purpose subsidiary; (8) Requirements and restrictions for material transactions; (9) Requirements for dividends and distributions; (10) Requirements for operations; and (11) Conditions of, forms for, and approval of the financing of a limited purpose subsidiary.