Compilation of Rules and Regulations of the State of Georgia
Department 120 - OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER
Chapter 120-2 - RULES OF COMMISSIONER OF INSURANCE
Subject 120-2-100 - Limited Purpose Subsidiaries
Rule 120-2-100-.03 - Definitions
Universal Citation: GA Rules and Regs r 120-2-100-.03
Current through Rules and Regulations filed through September 23, 2024
(1) "NAIC" means the National Association of Insurance Commissioners.
(2) "Material Transaction" means a transaction or series of transactions involving amounts equal to or exceeding 5 percent of a limited purpose subsidiary's admitted assets less any letters of credit, guaranties of a parent, intangible assets and any other assets approved by the Commissioner pursuant to Section 120-2-100-.12(2).
O.C.G.A. §§ 33-2-9, 33-14-100et seq.
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