---
title: O.C.G.A. § 33-14-103. Powers of limited purpose subsidiary.
collection: code
id: 33-14-103
cite_as: O.C.G.A. § 33-14-103 (2025)
canonical_url: https://georgiacommons.org/code/33-14-103
md_url: https://georgiacommons.org/code/33-14-103.md
text_url: https://georgiacommons.org/code/33-14-103/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t33-ch1-22-(v24)-pdf.pdf?sfvrsn=7cbbe9cb_0#page=174
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/33-14.md
previous: https://georgiacommons.org/code/33-14-102.md
next: https://georgiacommons.org/code/33-14-104.md
index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: INSURANCE / DOMESTIC STOCK AND MUTUAL INSURERS / LIMITED PURPOSE SUBSIDIARY INSURANCE COMPANIES
---

# O.C.G.A. § 33-14-103. Powers of limited purpose subsidiary.

(a) As used in this Code section, the term “sponsor” means any entity that sponsors or co-sponsors the formation of a limited purpose subsidiary or the issuances of securities by a limited purpose subsidiary or participates in a limited purpose subsidiary as an investor or otherwise assists with the raising of equity or debt for a limited purpose subsidiary.

(b) 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 or one or more sponsors;

(2) Is authorized to engage in the business of reinsurance only for the lines of insurance for which the organizing domestic reinsurer or a sponsor is authorized; and

(3) May access alternative forms of financing.

## History

Code 1981, § 33-14-103, enacted by Ga. L. 2011, p. 446, § 1/HB 341; Ga. L. 2025, p. 633, § 1/HB 348, effective June 1, 2025.

## Amendments

The 2025 amendment, effective June 1, 2025, added subsection (a), designated the existing provisions of this Code section as subsection (b), added “or one or more sponsors” at the end of paragraph (b)(1), inserted “or a sponsor” and “and” near the end of paragraph (b)(2), deleted former paragraph (b)(3), and redesignated former paragraph (b)(4) as present paragraph (b)(3).