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 120-2-62 - ASSUMPTION REINSURANCE
Rule 120-2-62-.03 - Definition
Universal Citation: GA Rules and Regs r 120-2-62-.03
Current through Rules and Regulations filed through September 23, 2024
"Applicant" means either the transferring or the assuming insurer required to submit the "Application for Approval of Assumption Reinsurance Agreement" based on the following criteria:
(a) If both insurers are licensed to transact the business of insurance in the State of Georgia, the transferring insurer shall submit the required filings; otherwise
(b) The insurer licensed to transact the business of insurance in the state of Georgia shall submit the required filings.
O.C.G.A. Secs. 33-29-9, 33-52-3, 33-52-6.
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