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-.09 - Dividends and Distributions

No limited purpose subsidiary shall pay any dividend or make any other distribution to the organizing domestic reinsurer until 30 days after the Commissioner has received notice of the declaration thereof and has not within such period disapproved such payment or other distribution, or the Commissioner shall have approved such payment within such 30 day period. The notice required by this section shall include the amount of the dividend or distribution and a certification signed by an officer of the limited purpose subsidiary stating that the dividend or distribution would not jeopardize the ability of the limited purpose subsidiary to fulfil the limited purpose subsidiary's obligations.

O.C.G.A. §§ 33-2-9, 33-14-100et seq.