§ 33-65-1. Short Title

This chapter shall be known and may be cited as the “Corporate Governance Annual Disclosure Act.” History. Code 1981, § 33-65-1 , enacted by Ga. L. 2019, p. 1038, § 1/HB 367.

§ 33-65-10. Application

The requirements of this chapter shall apply to all insurers domiciled in this state. History. Code 1981, § 33-65-10 , enacted by Ga. L. 2019, p. 1038, § 1/HB 367.

§ 33-65-11. First Filing Requirement

The first filing of the corporate governance annual disclosure shall be in 2020. History. Code 1981, § 33-65-11 , enacted by Ga. L. 2019, p. 1038, § 1/HB 367.

§ 33-65-2. Definitions

As used in this chapter, the term: “Corporate governance annual disclosure” means a confidential report filed by the insurer or insurance group made in accordance with the requirements of this chapter. “Insurance group” means those insurers and affiliates included within an insurance holding company system as defined in paragraph (7) of Code Section 33-13-1. “Insurer” […]

§ 33-65-3. Corporate Governance Annual Disclosures; Requirements; Cross-Referencing Data

An insurer, or the insurance group of which the insurer is a member, shall, no later than June 1 of each calendar year, submit to the Commissioner a corporate governance annual disclosure that contains the information described in subsection (b) of Code Section 33-65-5. Notwithstanding any request from the Commissioner made pursuant to subsection (c) […]

§ 33-65-4. Issuance of Rules, Regulations, and Orders

The Commissioner may, upon notice and opportunity for all interested persons to be heard, issue such rules, regulations, and orders as shall be necessary to carry out the provisions of this chapter. History. Code 1981, § 33-65-4 , enacted by Ga. L. 2019, p. 1038, § 1/HB 367.

§ 33-65-5. Required Information in Corporate Governance Annual Disclosures; Additional Information

The insurer or insurance group shall have discretion over the responses to the corporate governance annual disclosure inquiries, provided that the corporate governance annual disclosure shall contain the material information necessary to permit the Commissioner to gain an understanding of the insurer’s or group’s corporate governance structure, policies, and practices. The Commissioner may request additional […]

§ 33-65-6. Proprietary and Confidential Nature of Disclosures; Limitation on Testimony

Documents, materials, or other information including the corporate governance annual disclosure, in the possession or control of the department that are obtained by, created by, or disclosed to the Commissioner or any other person under this chapter, are recognized by this state as being proprietary and to contain trade secrets. All such documents, materials, or […]

§ 33-65-7. Use of Third-Party Consultants by Commissioner; Advisory Capacity; Confidentiality Standards; Free of Conflict of Interests

The Commissioner may retain, at the insurer’s expense, third-party consultants, including attorneys, actuaries, accountants, and other experts not otherwise a part of the Commissioner’s staff as may be reasonably necessary to assist the Commissioner in reviewing the corporate governance annual disclosure and related information or the insurer’s compliance with this chapter. Any persons retained under […]

§ 33-65-8. Failure to File Corporate Governance Annual Disclosures; Penalty

Any insurer failing, without just cause, to timely file the corporate governance annual disclosure as required in this chapter shall be required, after notice and hearing, to pay a penalty of $100.00 for each day’s delay, to be recovered by the Commissioner, and the penalty so recovered shall be paid into the general fund of […]

§ 33-65-9. Severability

If any provision of this chapter other than Code Section 33-65-6, or the application thereof to any person or circumstance, is held invalid, such determination shall not affect the provisions or applications of this chapter which can be given effect without the invalid provision or application, and to that end the provisions of this chapter, […]