§ 33-11-89. Standards Not Applicable; Reporting
Transactions between an investment pool and its participants shall not be subject to the provisions of Code Section 33-13-5. Investment activities of an investment pool and transactions between such pools and pool participants shall be reported annually in the registration statement required by Code Section 33-13-4. History. Code 1981, § 33-11A-10, enacted by Ga. L. […]
§ 33-11-62. Retention of Personnel to Assist Commissioner; Confidentiality
The Commissioner may retain at the insurer’s expense attorneys, actuaries, accountants, and other experts not otherwise a part of the Commissioner’s staff as may be reasonably necessary to assist in reviewing the insurer’s investments. Persons so retained shall be under the direction and control of the Commissioner and shall act in a purely advisory capacity. […]
§ 33-11-63. Determination by Commissioner of Noncompliance; Reasonable Additional Restrictions; Consideration of Other Assets by Commissioner
If the Commissioner determines that an insurer’s investment practices do not meet the provisions of this article, the Commissioner may, after notification to the insurer of the Commissioner’s findings, order the insurer to make changes necessary to comply with the provisions of this article. If the Commissioner determines that by reason of the financial condition, […]
§ 33-11-64. Conditions Under Which Insurer Shall Not Acquire an Investment; Special Rated Credit Instruments
An insurer shall not acquire an investment under this article if, as a result of and after giving effect to the investment, the aggregate amount of all investments then held by the insurer under this article would exceed: For medium and lower grade investments, 20 percent of admitted assets; For lower grade investments, 10 percent […]
§ 33-11-65. Establishment of Separate Accounts by Domestic Life Insurance Companies
Any domestic life insurance company may establish one or more separate accounts and may allocate to such separate account or accounts, in accordance with the terms of a written agreement, any amounts paid to the company in connection with a pension, retirement, or profit-sharing plan, which is established by or in behalf of any group […]
§ 33-11-66. Cumulative Nature of Code Section; Variable Annuity Contract; Separate Accounts; Conduct of Business; Licensed or Organized to Do Business in State; Commissioner’s Role
This Code section is cumulative of and in addition to the authority granted by any other law of this state relating to separate accounts for insurance companies or to annuity contracts on a variable basis and shall not be deemed to repeal or affect the provisions of Code Section 33-11-65 dealing with the group variable […]
§ 33-11-67. Variable Contract Insurance Policies; Separate Accounts; Power of Company; Statement of Essential Features in Determining Benefits; Certificate of Authority; Commissioner’s Role; Insurance License Required
As used in this Code section, “variable life insurance policy” means any individual or group policy issued by an insurance company providing for life insurance and benefits incidental thereto, under which payments or values may vary in whole or in part so as to reflect investment results of any segregated portfolio of investments or of […]
§ 33-11-80. Short Title
This article shall be known and may be cited as the “Investment Pool Act of 1997.” History. Code 1981, § 33-11A-1 , enacted by Ga. L. 1997, p. 1042, § 1; Code 1981, § 33-11-80 , as redesignated by Ga. L. 1999, p. 592, §§ 13, 15.
§ 33-11-53. Factors to Be Considered in Determining Prudence
The following factors shall be evaluated by the insurer and considered along with its business in determining whether an investment portfolio or investment policy is prudent, and the Commissioner shall consider the following factors prior to making a determination that an insurer’s investment portfolio or investment policy is not prudent: General economic conditions; The possible […]
§ 33-11-54. Written Plan and Policy; Duty of Board of Directors
An insurer’s board of directors shall adopt a written plan for acquiring and holding investments and for engaging in investment practices that specifies guidelines as to the quality, maturity, and diversification of investments and other specifications, including investment strategies intended to assure that the investments and investment practices are appropriate for the business conducted by […]