Ir al contenido
Georgia Commons

Código Oficial de Georgia Anotado

Título 33. INSURANCE · Capítulo 14. DOMESTIC STOCK AND MUTUAL INSURERS · Artículo 5. LIMITED PURPOSE SUBSIDIARY INSURANCE COMPANIES

33-14-103. Powers of limited purpose subsidiary.

Vigente

Actualizado hasta: Including Acts of the 2025 Regular Session of the General Assembly.

El texto siguiente es la ley tal como la imprime el estado, en inglés.

  1. (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.#

  2. (b)

    A limited purpose subsidiary that is granted a certificate of authority by the Commissioner under this article:#

    1. (1)

      Is wholly owned by the organizing domestic reinsurer or one or more sponsors;#

    2. (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. (3)

      May access alternative forms of financing.#

Las notas siguientes se imprimen con la sección, pero no son ley promulgada (O.C.G.A. § 1-1-1(c)). Se muestran aparte del texto.

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).

Leer la página oficial (el PDF del estado, abierto en la página de la que se leyó este texto).

Actualizado hasta: Including Acts of the 2025 Regular Session of the General Assembly.

Texto leído de t33-ch1-22-(v24)-pdf.pdf, Volumen V24, edición 2020, suplemento de 2025, páginas 174 a 175; acción de fusión: replaced; SHA-256 del archivo 56140d876051.