Title 33 — Title 33
0 chapters · 1,218 sections in this title.
O.C.G.A. § 33-17-1 Definitions
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As used in this chapter, the term: (1) ‘‘Attorney’’ means the attorney in fact of a reciprocal insurer. The attorney may be an individual, firm, or corporation. (2) ‘‘Reciprocal insurance’’ means insurance resulting from an interexchange among persons, known as subscribers, of rec…
O.C.G.A. § 33-17-10 Actions on attorney’s bond or deposit
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Action on the attorney’s bond or to recover against a deposit made in lieu of the bond may be brought at any time by one or more subscribers suffering loss through a violation of its conditions or by the Commis754 33-17-11 sioner as liquidator of the insurer. Amounts recovered on…
O.C.G.A. § 33-17-14 Subscribers’ advisory committee
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(a) The advisory committee of a domestic reciprocal insurer exercising the subscribers’ rights shall be selected under such rules as the subscribers adopt. 757 33-17-16 (b) The committee shall: (1) Supervise the finances of the insurer; (2) Supervise the insurer’s operations to su…
O.C.G.A. § 33-17-15 Preferential transfers
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Rehabilitation and liquidation, §33-37-27. Premium finance companies, §§33-22-1 to 33-22-16. Premiums. Reporting and disposition, §33-23-35. Priorities. Rehabilitation and liquidation. Claims. Priority of distribution, §33-37-41. Superiority of order of distribution issued by domi…
O.C.G.A. § 33-17-16 Requirements, §33-3-6
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Captive insurance companies, §§33-41-1 to 33-41-26. Accident and sickness insurance, companies permitted to engage in, §33-41-3. Assets, §33-41-12.
O.C.G.A. § 33-17-17 Advisory committee
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Exercising subscribers’ rights, §33-17-14. Alien insurers.
O.C.G.A. § 33-17-2 Applicability of chapter
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(a) All authorized reciprocal insurers shall be governed by those Code sections of this chapter not expressly made applicable to domestic reciprocal insurers. (b) Authorized reciprocal insurers shall comply with this chapter and shall make any amendments to their subscribers’ agr…
O.C.G.A. § 33-17-20 Rehabilitation and liquidation
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Assessments against members of insurer. Enforcement, §33-37-30. Claims. Effect of judgment or order within four months of or after filing petition for liquidation, §33-37-35. Receiver.
O.C.G.A. § 33-17-21 Standards for determination by Commissioner of financial condition of insurer
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In determining the financial condition of a reciprocal insurer, the Commissioner shall apply the following rules: (1) He shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis; (2) The surplus deposi…
O.C.G.A. § 33-17-23 Limitation period for assessments
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Every subscriber of a domestic reciprocal insurer having contingent liability shall be liable for and shall pay his share of any assessment, as computed and limited in accordance with this chapter, if: (1) While his or her policy is in force or within one year after its terminati…
O.C.G.A. § 33-17-24 Maximum assessable aggregate contingent liability
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No one policy or subscriber as to the policy shall be assessed or charged with an aggregate of contingent liability as to obligations incurred by a domestic reciprocal insurer in any one calendar year in excess of the amount provided for in the power of attorney or in the subscri…
O.C.G.A. § 33-17-25 Assets and liabilities
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Distribution to subscribers, §§33-17-27, 33-17-28. Authority to transact insurance within state, §33-17-3. Bond or deposit, §§33-17-8, 33-17-9. Actions on, §33-17-10. Capital stock or surplus. Surplus fund requirements, §33-17-16. Certificate authorizing insurer to extinguish cont…
O.C.G.A. § 33-17-26 Mutual insurers
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Conversion to stock insurer, §33-14-76. Domestic, §33-14-62.
O.C.G.A. § 33-17-27 Security in lieu of bond
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Deposit, §§33-17-9, 33-17-10. Service of process, §33-17-13. Standards for determining financial condition, §33-17-21. Subscribers’ advisory committee, §33-17-14. Subscribers’ agreement.
O.C.G.A. § 33-17-29 Filing of annual statement with Commissioner
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(a) The annual financial statement of a reciprocal insurer shall be made and filed with the Commissioner by its attorney on or before March 1 of each year. (b) The information required by this title of other insurers doing a like insurance business in this state shall be included i…
O.C.G.A. § 33-17-30 Recordkeeping duties, §33-14-13
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Reinsurance of risks. Domestic stock insurers, §33-14-40. 1229 INDEX INSURANCE COMPANIES —Cont’d Domestic stock and mutual insurers —Cont’d Reinsurance of risks —Cont’d Limited purpose subsidiary life insurance companies, §§33-14-100 to 33-14-109. Mutual insurers, §33-14-72. Retu…
O.C.G.A. § 33-17-31 Exchange of contracts or indemnities by attorneys
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Any attorney who shall exchange any contract or indemnity of the kind and character specified in this chapter or who shall directly or indirectly solicit or negotiate any application for the contracts without first complying with all the provisions of this chapter shall be guilty o…
O.C.G.A. § 33-17-5 Requirements as to name; actions by and against insurers
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A reciprocal insurer shall: (1) Have and use a business name. The name shall include the word ‘‘reciprocal’’ or ‘‘interinsurer’’ or ‘‘interinsurance’’ or ‘‘exchange’’ or ‘‘underwriters’’ or ‘‘underwriting’’; and (2) Bring and defend actions in its own name. History. — Code 1933, …
O.C.G.A. § 33-17-7 Revocation or suspension
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Annual statement with National Association of Insurance Commissioners. Failure to file, §33-3-21.3. Captive insurance companies, §33-41-11. Discretionary revocation or suspension, §33-3-17. Domestic stock insurers. Declaration or payment of illegal dividend, §33-14-42. For cause, …
O.C.G.A. § 33-17-9 Maintenance by attorney of deposit in lieu of bond
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In lieu of the bond required under Code Section 33-17-8, the attorney may maintain on deposit with the state through the office of the Commissioner a like amount in cash or in value of securities qualified for deposit under Chapter 11 of this title, subject to the same conditions …