Georgia Administrative Code

(1) Any variable annuity contract providing benefits payable in variable amounts delivered or issued for delivery in this State shall contain a statement of the essential features of the procedures to be followed by the insurance company in determining the dollar amount of such v…

(1) Any company issuing individual variable annuity contracts providing benefits in variable amounts shall mail to each contract holder at least once in each contract year after the first contract year at his last address known to the company, a statement or statements reporting …

(1) No agent shall be eligible to sell or offer for sale a variable annuity contract unless prior to making any solicitation or sale of such a contract, be also be licensed as a variable annuity agent. (2) Any agent applying for a license as a variable annuity agent shall do so b…

This regulation is promulgated pursuant to the authority granted by O.C.G.A. Section 33-2-9 and O.C.G.A. Section 33-13-8.

The purpose of this Regulation is to set forth rules and procedural requirements which the Commissioner deems necessary to carry out the provisions of Chapter 13 of Title 33, relating to insurance holding company systems hereinafter referred to as the "Act". The information calle…

(1) Forms A, B, C, D, E and F are intended to be guides in the preparation of the statements required by O.C.G.A. Sections 33-13-3, 33-13-3.1, 33-13-4, and 33-13-5. They are not intended to be blank forms which are to be filled in. These statements filed shall contain the numbers…

(1) Information required by any item of Form A, Form B, Form D, Form E or Form F may be incorporated by reference in answer or partial answer to any other item. Information contained in any financial statement, annual report, proxy statement, statement filed with a governmental a…

(1) Information required need be given only insofar as it is known or reasonably available to the person filing the statement. If any required information is unknown and not reasonably available to the person filing, either because the obtaining thereof would involve unreasonable…

In addition to the information expressly required to be included in Form A, Form B, Form C, Form D, Form E and Form F, there shall be added such further material information, if any, as may be necessary to make the information contained therein not misleading. The person filing m…

(1) As used in this Regulation, the term: (a) "Executive officer" means chief executive officer, chief operating officer, chief financial officer, treasurer, secretary, controller, and any other individual performing functions corresponding to those performed by the foregoing off…

The authority to invest in subsidiaries under subsection (b) of O.C.G.A. Section 33-13-2 is in addition to any authority to invest in subsidiaries which may be contained in any other provision of the Georgia Insurance Code.

A person required to file a statement pursuant to O.C.G.A. Section 33-13-3 shall furnish the required information on Form A, hereby made a part of this Regulation. Such person shall also furnish the required information on Form E, hereby made part of this Regulation and described…

The applicant shall promptly advise the Commissioner of any changes in the information so furnished on Form A arising subsequent to the date upon which such information was furnished but prior to the Commissioner's disposition of the application.

(1) If the person being acquired is deemed to be a "domestic insurer" solely because of the provisions of paragraph (1) of subsection (a) of O.C.G.A. Section 33-13-3, the name of the domestic insurer on the cover page should be indicated as follows: "ABC Insurance Company, a subs…

If a domestic insurer, including any person controlling a domestic insurer, is proposing a merger or acquisition pursuant to O.C.G.A. Section 33-13-3(a)(1) of the Act, that person shall file a pre-acquisition notification form, Form E, which was developed pursuant to O.C.G.A. Sec…

An insurer required to file an annual registration statement pursuant to O.C.G.A. Section 33-13-4 shall furnish the required information on Form B, hereby made a part of this Regulation, on or before April 30 of each calendar year.

An insurer required to file an annual registration statement pursuant to O.C.G.A. Section 33-13-4 is also required to furnish information required on Form C, hereby made a part of this Regulation. An insurer shall file a copy of Form C in each state in which the insurer is author…

(1) Any authorized insurer may file a registration statement on behalf of any affiliated insurer or insurers which are required to register under O.C.G.A. Section 33-13-4. A registration statement may include information not required by Chapter 13 of Title 33 regarding any insure…

(1) A disclaimer of affiliation or a request for termination of registration claiming that a person does not, or will not upon the taking of some proposed action, control another person (hereinafter referred to as the "subject") shall contain the following information: (a) The nu…

(1) An insurer required to give notice of a proposed transaction pursuant to O.C.G.A. Section 33-13-5 shall furnish the required information on Form D, hereby made a part of this Regulation. (2) Agreements for cost sharing services and management services shall at a minimum and a…

The ultimate controlling person of an insurer required to file an enterprise risk report pursuant to O.C.G.A Section 33-13-4(l) shall furnish the required information on Form F, hereby made a part of this Regulation.

(1) Request for approval of extraordinary dividends or any other extraordinary distribution to shareholders shall include the following: (a) The amount of the proposed dividend; (b) The date established for payment of the dividend; (c) A statement as to whether the dividend is to…

The factors set forth in subsection (c) of O.C.G.A. Section 33-13-5 are not intended to be an exhaustive list. In determining the adequacy and reasonableness of an insurer's surplus no single factor is necessarily controlling. The Commissioner, instead, will consider the net effe…

(1) Scope of Rule. This Rule shall apply where confidential information is shared between an international regulator and the Commissioner pursuant to a memorandum of understanding between the Commissioner and the international regulator covering the sharing of confidential inform…

If any provision of this Regulation or the application thereof to any person or circumstance, is held invalid, such determination shall not affect other provisions or applications of this Regulation which can be given effect without the invalid provision or application, and to th…

1) Institutional investors, their sponsored investment funds, subsidiaries and affiliates who meet the following criteria will not be presumed to control a domestic insurer under O.C.G.A. § 33-13-1(3), and therefore, the Commissioner may exempt such investors, in accordance with …

(1) Where an insurance holding company system has previously filed the annual group capital calculation at least once, the lead state commissioner has the discretion to exempt the ultimate controlling person from filing the annual group capital calculation if the lead state commi…

This Regulation is made and promulgated by the Insurance Commissioner pursuant to the authority set forth in Section 33-2-9 and Section 33-6-12 of the Georgia Insurance Code.

The purpose of this Regulation is to protect the interests of life insurance policyholders by establishing minimum standards of conduct to be observed in the replacement or proposed replacement of existing life insurance.

The following words and terms, when used in this Regulation shall have the following meanings, unless the context clearly indicates otherwise: (1) "Advertisement" shall be defined as set forth in Chapter 120-2-11 of the Rules and Regulations of the Georgia Insurance Department, e…

Unless otherwise specifically included, this Regulation shall not apply to: (1) Replacement of annuity contracts; (2) Credit life insurance; (3) Group life insurance; (4) Life insurance issued in connection with a pension, profit-sharing or other benefit plan qualifying for tax d…

(1) Each agent shall submit to the insurer to whom an application for life insurance is presented, with or as part of the application: (a) a statement signed by the applicant as to whether replacement of existing life insurance is involved in the transaction; and (b) a statement …

Each insurer shall: (1) Inform its agents and other personnel responsible for compliance with this Regulation of the requirements of this Regulation. (2) Require with or as a part of each completed application for life insurance or annuity a statement signed by the applicant as t…

Each insurer that uses an agent in a life insurance or annuity sale shall: (1) Require with or as part of each completed application for life insurance or annuity, a statement signed by the agent as to whether he or she knows replacement is or may be involved in the transaction. …

Each replacing insurer that is a direct response insurer shall: (1) Provide to applicants or prospective applicants with or as a part of the application a Replacement Notice as described in Exhibit A or other substantially similar form approved by the Commissioner. Such Replaceme…

If any portion of this Regulation is inconsistent with any provision of any other regulation dealing with life insurance or annuity marketing practices or disclosure, said inconsistent portion shall be interpreted so as to provide the greatest information or protection to the pol…

If any section, term, or provision of these rules and regulations shall be adjudged invalid for any reason, such judgment shall not affect, impair, or invalidate any other section, term, or provision of these rules and regulations and the remaining sections, terms, and provisions…

(1) Any insurer, agent, representative, officer, employee of an insurer, or counselor failing to comply with the requirements of this Regulation shall be subject to such penalties as may be appropriate under the Insurance Laws of Georgia and the Rules and Regulations of the Georg…

This Regulation is made and promulgated by the undersigned Insurance Commissioner pursuant to authority set forth in Section 33-2-9; Chapter 33-6; and Chapter 33-24 of the Georgia Code Annotated.

The purpose of this Regulation is: 1. To provide for the exemption of filing certain Life and Accident and Sickness Policy Forms and Annuity Contract Forms with the Office of the Insurance Commissioner. 2. To maintain a system of filing to best protect the interests of the insura…

All basic Life and Accident and Sickness Policy Forms and Annuity Contract Forms, including Application Forms, where written application is required and is to be made a part of the policy or contract, and printed rider or endorsement forms, or form of renewal certificate not spec…

1. On or before March 1, 1972, all insurers writing Life and Accident and Sickness Insurance Policies or Annuity Contracts in this State, shall file with this Office a List of all basic insurance policies and annuity contract forms, including applications, where written applicati…

On and after the effective date of this Regulation, and continuing until further Order of the Commissioner, the following policies and contract forms are hereby exempted from filing under the provisions of Section 33-24-9 of the Georgia Code Annotated: 1. Group Life Exemptions (N…

1. Regulation (a) This Order is not intended to relieve any insurer from complying with the terms of Chapter 33-6 of the Georgia Code Annotated, and the use of any policy or contract form, or the inclusion in any policy or contract forms of any language which violates the provisi…

Any insurer, or any officer, agent or employee of any insurer failing to comply with the requirements of this Regulation shall be subject to such penalties as authorized by Title 33 of the Georgia Code Annotated, and the Rules and Regulations promulgated thereunder.

This Regulation shall become effective January 1, 1972.

This Regulation is made and promulgated by the undersigned Insurance Commissioner pursuant to the authority set forth in Section 33-2-9 of the Insurance Laws of this State, and especially Chapter 33-6 of the Georgia Code Annotated.