A corporation organized pursuant to Article 26 of the Insurance Code, either by itself or in cooperation with one or more persons, may organize or acquire one or more subsidiaries. Such subsidiaries may conduct any type of business or businesses and their authority to do so will not be limited by the fact that they are subsidiaries of such corporation. Further, such subsidiaries may conduct additional kinds of insurance as authorized by Section 2112 of Article 21 of the Insurance Code.
Added by Laws 1988, c. 227, § 13, emerg. eff. June 20, 1988.