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Georgia Code - Insurance - Title 33, Section 33-41-20

Legal Research Home > Georgia Laws > Appeals and Errors > Georgia Code - Insurance - Title 33, Section 33-41-20

(a)(1) No captive insurance company shall be permitted to join or contribute financially to the Georgia Insurers Insolvency Pool under Chapter 36 of this title or any other plan, pool, or association guaranty or insolvency fund in this state nor shall any captive insurance company, or its insureds or claimants against its insureds, nor its parent or any affiliated company receive any benefit from the Georgia Insurers Insolvency Pool or any other plan, pool, or association guaranty or insolvency fund for claims arising out of the operations of such captive insurance company.

(2) No captive insurance company shall be required to participate in any FAIR Plan established and maintained in this state under Chapter 33 of this title.

(3) No captive insurance company shall be required to participate in any joint underwriting association established and maintained in this state under Chapter 9 of this title.

(b) Captive insurance companies shall be assessed on the same basis as self-insurers for the purpose of payments to the Subsequent Injury Trust Fund as described in Chapter 9 of Title 34.

Last modified: May 3, 2006