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-.15 - Contracts and Other Commercial Activities

A limited purpose subsidiary may enter into contracts and conduct other commercial activities related or incidental to and necessary to fulfil the purposes of a reinsurance contract, an insurance securitization, and this Regulation Chapter, provided such contracts and activities are included in the limited purpose subsidiary's plan of operation or are otherwise approved in advance by the Commissioner. Such contracts and activities may include but are not limited to: entering into reinsurance contracts; issuing limited purpose subsidiary securities; complying with the terms of these contracts or securities; entering into trust, guaranteed investment contract, swap, derivative, tax, administration, services reimbursement, or fiscal agent transactions; complying with trust indentures, or reinsurance or retrocession contracts; or entering into other agreements necessary or incidental to effect a reinsurance contract or an insurance securitization in compliance with this chapter and the limited purpose subsidiary's plan of operation.

O.C.G.A. §§ 33-2-9, 33-14-100et seq.