§ 33-13-9. Rules and Regulations and Orders
The Commissioner may, upon notice and opportunity for all interested persons to be heard, issue any rules, regulations, and orders as shall be necessary to carry out this article. History. Code 1933, § 56-3408, enacted by Ga. L. 1970, p. 257, § 1; Code 1981, § 33-13-8 ; Code 1981, § 33-13-9 , as redesignated […]
§ 33-13-10. Injunctions; Seizure or Sequestration of Voting Securities
Injunctions. Whenever it appears to the Commissioner that any insurer or any director, officer, employee, or agent of any insurer has committed or is about to commit a violation of this article or of any rule, regulation, or order issued by the Commissioner under this article, the Commissioner may apply to the superior court […]
§ 33-13-11. Violations of This Article
Any insurer failing, without just cause, to file any registration statement as required in this article shall be required, after notice and hearing, to pay a penalty of $1,000.00 for each day’s delay. The maximum penalty under this Code section is $50,000.00. The Commissioner may reduce the penalty if the insurer demonstrates to the Commissioner […]
§ 33-13-12. Receivership
Whenever it appears to the Commissioner that any person has committed a violation of this article which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, the Commissioner may proceed as provided in […]
§ 33-13-1. Definitions
As used in this article, the term: “Affiliate,” including the term “affiliate of” or “person affiliated with” a specific person, means a person who directly or indirectly through one or more intermediaries controls, is controlled by, or is under common control with the person specified. “Commissioner” means the Commissioner of Insurance, the Commissioner’s deputies, or […]
§ 33-13-2. Acquisition or Organization of Subsidiaries by Domestic Insurers; Conduct of Business by Subsidiaries; Investment by Insurers in Securities of Subsidiaries
Any domestic insurer either by itself or in cooperation with one or more persons may organize or acquire one or more subsidiaries. The subsidiaries may conduct any kind of business or businesses permitted by the Constitution and laws of this state; and their authority to do so shall not be limited by reason of the […]
§ 33-13-3. Acquisition of Control of or Merger With Domestic Insurer
Filing requirements. No person other than the issuer shall make a tender offer for or a request or invitation for tenders of, or enter into any agreement to exchange securities for, seek to acquire, or acquire, in the open market or otherwise, any voting security of a domestic insurer if after the consummation of the […]
§ 33-13-3.1. Acquisition of Insurer; Effect on Competition
As used in this Code section, the term: “Acquisition” means any agreement, arrangement, or activity, the consummation of which results in a person acquiring directly or indirectly the control of another person and, includes, but is not limited to, the acquisition of voting securities, the acquisition of assets, bulk reinsurance, and mergers. “Involved insurer” includes […]