Title 33 — Title 33
0 chapters · 1,218 sections in this title.
O.C.G.A. § 33-52-1 Applicability of chapter
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(a) This chapter shall apply to any insurer authorized or doing business in this state which transfers or assumes the obligations or risks on contracts of insurance written or assumed in this state to or from another insurer pursuant to an assumption reinsurance agreement. (b) Th…
O.C.G.A. § 33-52-2 Definitions
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As used in this chapter: (1) ‘‘Assuming insurer’’ means the insurer which acquires an insurance obligation or risk from the transferring insurer pursuant to an assumption reinsurance agreement. (2) ‘‘Assumption reinsurance agreement’’ means any contract which both: (A) Transfers …
O.C.G.A. § 33-52-4 Notice of transfer, §33-52-3
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NOTICE —Cont’d Insurance companies —Cont’d Captive insurance companies. Sponsored captive insurance companies, notice of insolvency of protected cell, §33-41-102. Deposits. Limitation period for filing notices of claims against, §33-12-15. Division of domestic insurers. Public hea…
O.C.G.A. § 33-52-5 Novation of insurance contract
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If a transfer takes place pursuant to Code Section 33-52-4, there shall be a novation of the contract of insurance subject to the assumption reinsurance agreement with the result that the transferring insurer shall thereby be relieved of all insurance obligations or risks transfe…
O.C.G.A. § 33-52-6 Approval or disapproval by Commissioner
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(a) The Commissioner shall approve or disapprove the entire assumption reinsurance transaction. The following items shall be submitted to the Commissioner: (1) A detailed statement explaining the reason or reasons for the transfer; (2) The assumption reinsurance agreement; (3) Th…