Georgia Code, Title 33, Chapter 37, Article 3 - Procedure for Rehabilitation

• § 33-37-11 - Petition for Rehabilitation; Grounds
  The Commissioner may apply by petition to the Superior Court of Fulton County for an order authorizing him to rehabilitate a domestic insurer or...
• § 33-37-12 - Order to Rehabilitate; Commissioner to Be Appointed As Rehabilitator; Effect of Order
  (a) An order to rehabilitate the business of a domestic insurer, or an alien insurer domiciled in this state, shall appoint the Commissioner and...
• § 33-37-13 - Authority of Rehabilitator; Additional Remedies; Rehabilitation Plan
  (a) The Commissioner as rehabilitator may appoint one or more special deputies who shall have all the powers and responsibilities of the rehabilitator granted...
• § 33-37-14 - Effect of Rehabilitation Order on Pending Litigation; Standing of Guaranty Association to Participate in Rehabilitation
  (a) Any court in this state before which any action or proceeding in which the insurer is a party, or is obligated to defend...
• § 33-37-15 - Petition for Order of Liquidation; Defense; Payment of Costs and Expenses; Order Terminating Rehabilitation
  (a) Whenever the Commissioner believes further attempts to rehabilitate an insurer would substantially increase the risk of loss to creditors, policyholders, or the public...
• § 33-37-16 - Grounds for Order of Liquidation
  The Commissioner may petition the superior court for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in this...
• § 33-37-17 - Commissioner Appointed As Liquidator; Seizure and Administration of Assets; Effect of Filing Order; Petition for Declaration of Insolvency; Financial Reports; Plan for Continued Performance Pending Appeal
  (a) An order to liquidate the business of a domestic insurer shall appoint the Commissioner and his successors in office liquidator and shall direct...
• § 33-37-18 - Termination of Policy Coverage
  (a) All policies, including bonds and other noncancelable business, other than life or accident and sickness insurance or annuities, in effect at the time...
• § 33-37-19 - Petition for Dissolution of Corporate Existence
  The Commissioner may petition for an order dissolving the corporate existence of a domestic insurer or the United States branch of an alien insurer...
• § 33-37-20 - Powers of Liquidator
  (a) The liquidator shall have the power: (1) To appoint a special deputy or deputies to act for him under this chapter and to...
• § 33-37-21 - Notice of Liquidation
  (a) Unless the court otherwise directs, the liquidator shall give or cause to be given notice of the liquidation order as soon as possible:...
• § 33-37-22 - Responsibility of Agent to Provide Information; Penalty for Violation
  (a) Every person who receives notice in the form prescribed in Code Section 33-37-21 that an insurer which he represents as an agent is...
• § 33-37-23 - Stay of Collateral Proceedings Against Insurer; Authority of Liquidator to Intervene In, and Defend, Out-Of-state Action
  (a) Upon issuance of an order appointing a liquidator of a domestic insurer or of an alien insurer domiciled in this state, no action...
• § 33-37-24 - Time for Filing List of Assets; Reducing Assets to Liquidity
  (a) As soon as practicable after the liquidation order but not later than 120 days thereafter, the liquidator shall prepare in duplicate a list...
• § 33-37-25 - Fraudulent Transfers or Obligations Incurred; Avoidance
  (a) Every transfer made or suffered and every obligation incurred by an insurer within one year prior to the filing of a successful petition...
• § 33-37-26 - Transfer of Property in Good Faith; Recording Copy of Petition As Notice of Seizure of Property
  (a) After a petition for rehabilitation or liquidation has been filed, a transfer of any of the real property of the insurer made to...
• § 33-37-26.1 - Limitations on Ability of Receiver to Void Transfer of Certain Property in Connection With Federal Home Loan Bank Security Agreement; Transfer Avoidance Under Certain Circumstances
  The receiver for an insurer-member shall not void any transfer of, or any obligation to transfer, money or any other property arising under or...
• § 33-37-27 - Preferential Transfers; Liens; When Transfer Perfected; Avoidance; Transfer for New and Contemporaneous Consideration; Payments to Attorneys; Personal Liability of Participants
  (a)(1) A preference is a transfer of any of the property of an insurer to or for the benefit of a creditor for or...
• § 33-37-28 - Disallowing Preferred Creditor's Claims
  (a) No claims of a creditor who has received or acquired a preference, lien, conveyance, transfer, assignment, or encumbrance voidable under this chapter shall...
• § 33-37-29 - Mutual Debts and Credits
  (a) In all cases of mutual debts or mutual credits between the insurer and another person in connection with any action or proceeding under...
• § 33-37-30 - Liquidator's Report to Court; Assessment Against Members of Insurer; Procedure When Assessment Not Paid
  (a) As soon as practicable but not more than two years from the date of an order of liquidation under Code Section 33-37-17 of...
• § 33-37-31 - Liability of Reinsurers
  The amount recoverable by the liquidator from reinsurers shall not be reduced as a result of the delinquency proceedings regardless of any provision in...
• § 33-37-32 - Premiums Due During Pendency of Liquidation Action; Penalties for Violation; Notice; Right to Appeal
  (a)(1) An agent, broker, premium finance company, or any other person, other than the insured, responsible for the payment of a premium shall be...
• § 33-37-33 - Application for Approval of Proposal to Disburse Assets; Notice
  (a) Within 120 days of a final determination of insolvency of an insurer by a court of competent jurisdiction of this state, the liquidator...
• § 33-37-34 - Proof of Claims; Late Filing
  (a) Proof of all claims shall be filed with the liquidator in the form required by Code Section 33-37-35 on or before the last...
• § 33-37-35 - Contents of Proof of Claim; Effect of Judgment or Order Within Four Months Of, or After, Filing Petition for Liquidation
  (a) Proof of claim shall consist of a statement signed by the claimant that includes all of the following that are applicable: (1) The...
• § 33-37-36 - Third-Party Contingent Claim; Claims Due in Future; Claims Under Employment Contracts
  (a) The claim of a third party which is contingent only on his first obtaining a judgment against the insured shall be considered and...
• § 33-37-37 - Third-Party Claim Against Insured
  (a) Whenever any third party asserts a cause of action against an insured of an insurer in liquidation, the third party may file a...
• § 33-37-38 - Procedure When Claim Denied
  (a) When a claim is denied in whole or in part by the liquidator, written notice of the determination shall be given to the...
• § 33-37-39 - When Third Person Subrogated to Rights of Creditor
  Whenever a creditor whose claim against an insurer is secured, in whole or in part, by the undertaking of another person fails to prove...
• § 33-37-40 - Determining Value of Security Held by Secured Creditor
  (a) The value of any security held by a secured creditor shall be determined in one of the following ways, as the court may...
• § 33-37-41 - Priority of Distribution of Claims
  For all pending and future claims in insolvencies existing on July 1, 1997, and for all claims in future insolvencies, the priority of distribution...
• § 33-37-42 - Authority of Liquidator to Compound, Compromise, or Negotiate Claims; Report to Court
  (a) The liquidator shall review all claims duly filed in the liquidation and shall make such further investigation as he shall deem necessary. He...
• § 33-37-43 - Payment of Distributions
  Under the direction of the court, the liquidator shall pay distributions in a manner that will assure the proper recognition of priorities and a...
• § 33-37-44 - Disposition of Unclaimed Funds Subject to Distribution
  (a) All unclaimed funds subject to distribution remaining in the liquidator's hands when he is ready to apply to the court for discharge, including...
• § 33-37-45 - Liquidator's Application for Discharge
  (a) When all assets justifying the expense of collection and distribution have been collected and distributed under this chapter, the liquidator shall apply to...
• § 33-37-46 - Reopening Liquidation Proceedings
  After the liquidation proceeding has been terminated and the liquidator discharged, the Commissioner or other interested party may at any time petition the superior...
• § 33-37-47 - Retention or Destruction of Records
  Whenever it shall appear to the Commissioner that the records of any insurer in process of liquidation or completely liquidated are no longer useful,...
• § 33-37-48 - Receivership Audits
  The superior court may, as it deems desirable, cause audits to be made of the books of the Commissioner relating to any receivership established...

Last modified: October 14, 2016