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73 chapters · 1,492 sections in this title.
O.C.G.A. § 33-14-20 Limitation on commission received by persons selling stock of insurers; participation by corporate officers in commissions
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(a) No officer, agent, or other person selling or negotiating stock in any domestic insurance company shall receive either directly or indirectly more than 10 percent of the sales price of any of said stock. No president, vice-president, secretary, treasurer, or director or any o…
O.C.G.A. § 33-14-21 Limitation on organizational expenses
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The total expenses of organization of any insurer organized under this chapter including commissions for the sale of stock shall not exceed 121/2 percent of the amount for which the stock is sold in the case of a stock insurer and 121/2 percent of the paid-in surplus in the case …
O.C.G.A. § 33-14-22 Proceedings for correction of deficiency in assets or capital of insurer; institution of delinquency proceedings upon failure to correct deficiency
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(a) If the capital of a domestic stock insurer becomes impaired or the assets of a domestic mutual insurer are less than its liabilities and the minimum amount of surplus required of it by this chapter for authority to transact the kinds of insurance being transacted, the Commiss…
Extinguishment of charters of corporations not actively engaged in business; automatic extinguishment of charter upon merger or consolidation
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(a) The corporate charter of any other corporation formed under the laws of this state for the purpose of becoming an insurer, and which corporation, during any period of 36 consecutive months after January 1, 1961, is not actively engaged in business as a domestic insurer under …