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