§ 33-14-108. Applicability of Certain Provisions of This Title
The following provisions of this title shall not apply to a limited purpose subsidiary organized under this article: Code Section 33-3-6; Code Section 33-3-7; Code Section 33-3-8; Code Section 33-7-14; Article 2 of Chapter 11; Code Section 33-13-4; Code Section 33-13-5; Code Section 33-14-40; and Chapter 56. History. Code 1981, § 33-14-108 , enacted by […]
§ 33-14-109. Adoption of Rules
The Commissioner shall, before approving a limited purpose subsidiary under this article, adopt rules pursuant to Code Section 33-2-9 to implement this article. The rules adopted under subsection (a) of this Code section shall address, but not be limited to, the following concerning limited purpose subsidiaries: Requirements for organization of a limited purpose subsidiary; Requirements […]
§ 33-14-120. Definitions
As used in this article, the term: “Capital” means the capital stock component of statutory surplus, as defined in the National Association of Insurance Commissioners Accounting Practices and Procedures Manual, version effective January 1, 2001, and subsequent revisions. “Director” means a person: By or under whose authority the powers of a corporation are exercised; and […]
§ 33-14-121. Plans of Division; Requirements; Amendment
Any domestic insurer may, in accordance with the requirements of this article, divide into two or more resulting insurers pursuant to a plan of division. A plan of division shall include: The name of the dividing insurer seeking to divide; The name of each resulting insurer or insurers that will be created by the proposed […]
§ 33-14-122. Approval of Plan of Division
Except as provided in subsections (b) and (c) of this Code section, a dividing insurer shall not file a plan of division with the Commissioner unless such plan has been approved in accordance with: All provisions of its articles of incorporation and bylaws; or If its articles of incorporation and bylaws do not provide for […]
§ 33-14-95. Foreign or Domestic Arbitrage Transactions Exempted From Article
Code Sections 33-14-91 through 33-14-93 shall not apply to foreign or domestic arbitrage transactions unless made in contravention of any rules and regulations as the Commissioner may adopt in order to carry out the purposes of this article. History. Code 1933, § 56-1605, enacted by Ga. L. 1965, p. 378, § 3.
§ 33-14-96. Transactions in Securities Registered Under Section 12 of Securities Exchange Act of 1934 Exempted From Article
Code Sections 33-14-91 through 33-14-93 shall not apply to equity securities of a domestic stock insurer if the securities shall be registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended. History. Code 1933, § 56-1607, enacted by Ga. L. 1965, p. 378, § 3. U.S. Code. Section 12 of the […]
§ 33-14-97. Promulgation of Rules and Regulations by Commissioner; Effect of Rules and Regulations Upon Liability Under Code Sections 33-14-91 Through 33-14-93
The Commissioner shall have the power to make any reasonable rules and regulations as may be necessary for the execution of the functions vested in him by this article and may for that purpose classify domestic stock insurers, securities, and other persons or matters within his jurisdiction. No provision of Code Sections 33-14-91 through 33-14-93 […]
§ 33-14-70. Notice of Assessment; Presumption as to Correctness of Assessment; Proceedings Upon Failure of Member to Pay Assessment
Any assessment made by an insurer under Code Sections 33-14-68 and 33-14-69 is prima facie correct. The amount of the assessment to be paid by each member as determined by the insurer is likewise prima facie correct. The insurer shall notify each member of the amount of the assessment to be paid by written notice […]
§ 33-14-100. Definitions
As used in this article, the term: “Limited purpose subsidiary” means a subsidiary life, accident, and sickness reinsurer that is organized under this article and is wholly owned by an organizing domestic reinsurer. “Organizing domestic reinsurer” means a domestic life, accident, and sickness reinsurer that organizes a limited purpose subsidiary under this article. “Reinsurer” means […]