A limited purpose subsidiary that is granted a certificate of authority by the Commissioner under this article:
- Is wholly owned by the organizing domestic reinsurer;
- Is authorized to engage in the business of reinsurance only for the lines of insurance for which the organizing domestic reinsurer is authorized;
- May reinsure only risks of the organizing domestic reinsurer; and
- May access alternative forms of financing.
History. Code 1981, § 33-14-103 , enacted by Ga. L. 2011, p. 446, § 1/HB 341.