TITLE 33 INSURANCE

Section 14. Domestic Stock and Mutual Insurers, 33-14-1 through 33-14-109.

ARTICLE 5 LIMITED PURPOSE SUBSIDIARY INSURANCE COMPANIES

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.

(Code 1981, §33-14-103, enacted by Ga. L. 2011, p. 446, § 1/HB 341.)