§ 33-38-12. Examination of the Association by the Commissioner; Annual Report
The association shall be subject to examination and regulation by the Commissioner. Notwithstanding the foregoing, whether such examinations shall be conducted and the frequency of any such examination shall be at the sole discretion of the Commissioner. The board of directors shall submit to the Commissioner not later than May 1 of each year a […]
§ 33-38-13. Exemption of the Association From Taxation
The association shall be exempt from all taxation in this state based upon income or gross receipts and shall likewise be exempt from all state and local occupation license and business fees and occupation license and business taxes. History. Code 1933, § 56-2213, enacted by Ga. L. 1981, p. 1336, § 1; Ga. L. 2012, […]
§ 33-38-14. Immunity From Liability for Actions or Omissions in Performance of Powers and Duties Pursuant to This Chapter
There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer or its agents or employees, the association or its agents or employees, members of the board of directors, or the Commissioner or his or her representatives, for any action or omission by […]
§ 33-38-15. Assessments Against Member Insurers
For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the member insurers separately for the health account and for each subaccount of the life insurance and annuity account at such time and for such amounts as the board finds necessary. […]
§ 33-38-1. Purpose
The purpose of this chapter is to protect the persons specified in subsection (b) of Code Section 33-38-2, subject to certain limitations, against failure in the performance of contractual obligations, under life, health, and annuity policies, plans, or contracts specified in subsection (a) of Code Section 33-38-2, due to the impairment or insolvency of the […]
§ 33-38-2. Scope
This chapter shall provide coverage to the persons specified in subsection (b) of this Code section for policies or contracts of direct, nongroup life insurance; health insurance which for the purposes of this chapter includes health maintenance organization subscriber contracts and certificates and health care plans issued by health care corporations; annuities; for certificates under […]
§ 33-38-3. Construction
This chapter shall be construed to effect the purpose set forth in Code Section 33-38-1. History. Code 1933, § 56-2218, enacted by Ga. L. 1981, p. 1336, § 1; Ga. L. 2012, p. 701, § 1/HB 786.
§ 33-38-4. Definitions
As used in this chapter, the term: “Account” means any of the two accounts created under Code Section 33-38-5. “Affiliate” means any person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with the person specified. “Association” means the Georgia Life and Health Insurance Guaranty Association […]
§ 33-38-5. Creation; Required Membership; Functions and Powers; Supervision of Association; Accounts for Administration and Assessment
There is created a nonprofit, unincorporated association to be known as the Georgia Life and Health Insurance Guaranty Association. All member insurers shall be and remain members of the association as a condition of their authority to transact insurance, a health maintenance organization business, or a health care corporation business in this state. The association […]
§ 33-38-6. Membership of the Board of Directors; Vacancies; Compensation and Reimbursement of Expenses
The board of directors of the association shall consist of not less than seven nor more than 11 member insurers serving terms as established in the plan of operation. The members of the board shall be selected by the Commissioner from a list provided to the Commissioner from the board. Vacancies on the board shall […]