Georgia Code, Title 33, Chapter 17 - Reciprocal Insurers

• § 33-17-1 - Definitions
  As used in this chapter, the term: (1) "Attorney" means the attorney in fact of a reciprocal insurer. The attorney may be an individual,...
• § 33-17-2 - Applicability of Chapter
  (a) All authorized reciprocal insurers shall be governed by those Code sections of this chapter not expressly made applicable to domestic reciprocal insurers.(b) Existing...
• § 33-17-3 - Authorization of Transaction of Insurance by Reciprocal Insurers Generally
  A reciprocal insurer may be authorized to transact insurance in this state subject to the applicable provisions of this title.
• § 33-17-4 - Types of Insurance in Which Reciprocal Insurers Authorized to Transact Business; Reinsurance
  (a) A reciprocal insurer may, upon qualifying as a reciprocal insurer as provided for by this title, transact any kind or kinds of insurance...
• § 33-17-5 - Requirements As to Name; Actions by and Against Insurers
  A reciprocal insurer shall: (1) Have and use a business name. The name shall include the word "reciprocal" or "interinsurer" or "interinsurance" or "exchange"...
• § 33-17-6 - Procedure for Incorporation of Domestic Reciprocal Insurer Generally; Application for Certificate of Authority; Execution and Filing by Attorney of Declaration; Contents of Declaration
  (a) Twenty-five or more persons domiciled in this state may organize a domestic reciprocal insurer and make application to the Commissioner for a certificate...
• § 33-17-7 - Issuance of Certificate of Authority; Refusal, Suspension, or Revocation of Certificate of Authority; Renewal of Certificate; Payment of Fees and Taxes
  (a) The certificate of authority to transact business of a reciprocal insurer shall be issued to its attorney in the name of the insurer.(b)...
• § 33-17-8 - Filing of Bond by Attorney for Insurer; Amount of Bond; Cancellation of Bond
  (a) Concurrently with the filing of the declaration provided for in Code Section 33-17-6, the attorney of a domestic reciprocal insurer shall file with...
• § 33-17-9 - Maintenance by Attorney of Deposit in Lieu of Bond
  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...
• § 33-17-10 - Actions on Attorney's Bond or Deposit
  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...
• § 33-17-11 - Rights and Powers of Attorney for Insurer Generally; Contents and Terms of Power of Attorney; Furnishing of Copy of Power of Attorney to Subscribers
  (a) The rights and powers of the attorney of a reciprocal insurer shall be as provided in the power of attorney given to it...
• § 33-17-12 - Effect of Discharge of Duties by Attorney of Foreign or Alien Insurer; Office of Attorney
  (a) The attorney of a foreign or alien reciprocal insurer, which insurer is duly authorized to transact insurance in this state, shall not, by...
• § 33-17-13 - Designation by Insurer of Person to Acknowledge or Accept Service of Process; Manner of Service of Process; Effect of Judgment Based Upon Process Served in Manner Prescribed
  (a) Every reciprocal insurer authorized to transact business in this state shall file with the Commissioner a written statement or power of attorney duly...
• § 33-17-14 - Subscribers' Advisory Committee
  (a) The advisory committee of a domestic reciprocal insurer exercising the subscribers' rights shall be selected under such rules as the subscribers adopt.(b) The...
• § 33-17-15 - Modifications of Terms of Subscribers' Agreement or of Power of Attorney
  Modifications of the terms of the subscribers' agreement or of the power of attorney of a domestic reciprocal insurer shall be made jointly by...
• § 33-17-16 - General Requirements for Transaction of Insurance by Domestic Reciprocal Insurers
  (a) A domestic reciprocal insurer formed under this chapter, if it has otherwise complied with the applicable provisions of this title, may be authorized...
• § 33-17-17 - Advancement of Sums to Insurer by Attorney or Other Parties; Withdrawal or Repayment of Advances
  The attorney or other parties may advance to a domestic reciprocal insurer upon reasonable terms any funds as it may require from time to...
• § 33-17-18 - Persons and Organizations Authorized to Become Subscribers; Exchange of Insurance Contracts; Personal Liability Upon Contracts
  (a) Individuals, partnerships, and corporations of this state may make application to, enter into agreement for, hold policies or contracts in or with, and...
• § 33-17-19 - Liability of Subscribers for Obligations of Insurer Generally; Contingent Liability Assessment
  (a) The liability of each subscriber, other than as to a nonassessable policy, for the obligations of the reciprocal insurer shall be an individual,...
• § 33-17-20 - Enforcement Against Subscriber of Judgment Against Insurer
  (a) No action shall lie against any subscriber upon any obligation claimed against the insurer until a final judgment has been obtained against the...
• § 33-17-21 - Standards for Determination by Commissioner of Financial Condition of Insurer
  In determining the financial condition of a reciprocal insurer, the Commissioner shall apply the following rules: (1) He shall charge as liabilities the same...
• § 33-17-22 - Manner of Levy of Assessments Against Subscribers Generally; Computation of Assessments
  (a) Assessments may from time to time be levied upon subscribers of a domestic reciprocal insurer liable therefor under the terms of their policies...
• § 33-17-23 - Limitation Period for Assessments
  Every subscriber of a domestic reciprocal insurer having contingent liability shall be liable for and shall pay his share of any assessment, as computed...
• § 33-17-24 - Maximum Assessable Aggregate Contingent Liability
  No one policy or subscriber as to the policy shall be assessed or charged with an aggregate of contingent liability as to obligations incurred...
• § 33-17-25 - Insufficient Assets to Discharge Liabilities and to Maintain Required Surplus
  (a) If the assets of a domestic reciprocal insurer are at any time insufficient to discharge its liabilities, other than any liability on account...
• § 33-17-26 - Authorization and Procedure for Issuance by Commissioner of Certificate Authorizing Insurer to Extinguish Contingent Liability of Subscribers; Revocation of Certificate
  (a) If a reciprocal insurer has a surplus of assets over all liabilities at least equal to the minimum paid-in capital stock required of...
• § 33-17-27 - Distribution of Unused Premiums, Savings, Credits, or Profits to Subscribers
  A reciprocal insurer may from time to time return to its subscribers any unused premiums, savings, credits, or profits accruing to their accounts. Any...
• § 33-17-28 - Distribution of Assets to Subscribers Upon Liquidation of Insurer
  Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharges of its indebtedness and policy obligations, the return of any contributions...
• § 33-17-29 - Filing of Annual Statement With Commissioner
  (a) The annual financial statement of a reciprocal insurer shall be made and filed with the Commissioner by its attorney on or before March...
• § 33-17-30 - Merger of Reciprocal Insurers; Conversion of Reciprocal Insurers to Stock or Mutual Insurers
  (a) A domestic reciprocal insurer, upon affirmative vote of not less than two-thirds of its subscribers who vote on the merger pursuant to due...
• § 33-17-31 - Exchange of Contracts or Indemnities by Attorneys
  Any attorney who shall exchange any contract or indemnity of the kind and character specified in this chapter or who shall directly or indirectly...

Last modified: October 14, 2016