Georgia Code, Title 33, Chapter 11, Article 1 - Investments of Certain Insurers

• § 33-11-1 - Scope of Article
  (a) With the exception of Code Section 33-11-42, this article shall apply to domestic insurers only.(b) The provisions of this article shall apply only...
• § 33-11-2 - Eligible Investments; Investment Limitations
  (a) Insurers shall invest in or lend their funds on the security of, and shall hold as invested assets, only eligible investments as prescribed...
• § 33-11-3 - Acquisition of Securities or Investments by Insurers Generally
  (a) No security or investment, other than real and personal property acquired under Code Sections 33-11-28, 33-11-29, and 33-11-32 and cash and deposits under...
• § 33-11-4 - Authorization of Loan or Investment of Insurer
  An insurer shall not make any investment or loan other than policy loans or annuity contract loans of a life insurer unless the same...
• § 33-11-5 - Required Investments; Limitations
  An insurer shall invest in or hold as admitted assets categories of investments that fall within the applicable limits listed in paragraphs (1) through...
• § 33-11-6 - Authorized Investments Generally -- Cash or Deposits
  An insurer may have as assets cash or deposits in checking or savings accounts under certificates of deposit or in any other form in...
• § 33-11-7 - Authorized Investments Generally -- Securities of Open-End Management Investment Company or Investment Trust
  An insurer may invest in the securities of any open-end management type investment company or investment trust registered with the Federal Securities and Exchange...
• § 33-11-8 - Authorized Investments Generally -- Foreign Securities
  An insurer authorized to transact insurance in a foreign country may make investments, in a manner consistent with the laws of such country, in...
• § 33-11-9 - Authorized Investments Generally -- Obligations of Government of United States Generally
  An insurer may invest in bonds, notes, warrants, and other evidences of indebtedness which are direct obligations of the government of the United States...
• § 33-11-10 - Authorized Investments Generally -- Securities Which are Not Evidenced by Certificates
  Notwithstanding any other provisions of this title which might be construed to the contrary, nothing contained in this title shall be deemed to prohibit...
• § 33-11-11 - Authorized Investments Generally -- Loans Guaranteed by Government of United States
  An insurer may invest in loans guaranteed as to principal and interest by the government of the United States of America, or by any...
• § 33-11-12 - Authorized Investments Generally -- Securities of States of United States, District of Columbia, or Government of Canada
  An insurer may invest in bonds, notes, warrants, and other securities not in default which are the direct obligations of any state of the...
• § 33-11-12.1 - Investment in Direct Obligations of Foreign Governments
  Subject to the restrictions and limitations provided in this title, an insurer may invest in bonds, notes, warrants, and other securities not in default...
• § 33-11-13 - Authorized Investments Generally -- Obligations of Political Subdivisions or Public Authorities of States of United States, District of Columbia, or Government of Canada
  An insurer may invest in the obligations of any county, any incorporated city, town, or village, any school district, water district, sewer district, road...
• § 33-11-14 - Authorized Investments Generally -- Industrial Development Obligations
  An insurer may invest in the bonds, notes, certificates of indebtedness, warrants, or other evidence of indebtedness which are valid obligations issued, assumed, or...
• § 33-11-14.1 - Authorized Investments Generally -- Securities of Federal Agencies
  An insurer may invest in bonds, debentures, or other securities issued or insured or guaranteed by any agency, authority, unit, or corporate body created...
• § 33-11-15 - Authorized Investments Generally -- Securities of Public Housing Authorities or Agencies
  An insurer may invest in the bonds, debentures, or other securities of public housing authorities, issued under the act of Congress entitled the Housing...
• § 33-11-16 - Authorized Investments Generally -- Obligations Issued, Assumed, or Guaranteed by International Bank for Reconstruction and Development or International Finance Corporation
  An insurer may invest in obligations issued, assumed, or guaranteed by the International Bank for Reconstruction and Development or the International Finance Corporation. The...
• § 33-11-17 - Authorized Investments Generally -- Obligations Issued, Assumed, or Guaranteed by Asian Development Bank
  An insurer may invest in obligations issued, assumed, or guaranteed by the Asian Development Bank, in which bank the United States is a subscribing...
• § 33-11-18 - Authorized Investments Generally -- Obligations Issued, Assumed, or Guaranteed by Inter-American Development Bank
  An insurer may invest in obligations issued, assumed, or guaranteed by the Inter-American Development Bank. The investments authorized by this Code section shall not...
• § 33-11-19 - Authorized Investments Generally -- Loans Guaranteed by Georgia Higher Education Assistance Corporation
  An insurer may make and invest in loans guaranteed as to principal and interest by the Georgia Higher Education Assistance Corporation, to the extent...
• § 33-11-19.1 - Authorized Investments Generally -- Obligations Issued, Assumed, or Guaranteed by African Development Bank
  An insurer may invest in obligations issued, assumed, or guaranteed by the African Development Bank. The investments authorized by this Code section shall not...
• § 33-11-19.2 - Authorized Investments Generally -- Loans Guaranteed by United Student Aid Funds, Inc
  An insurer may make and invest in loans guaranteed as to principal and interest by the United Student Aid Funds, Inc., to the extent...
• § 33-11-20 - Authorized Investments Generally -- Obligations of Corporations Generally
  (a) An insurer may invest in bonds, debentures, notes, and other evidences of indebtedness issued, assumed, or guaranteed by any solvent institution existing under...
• § 33-11-21 - Authorized Investments Generally -- Corporate Stocks
  An insurer may invest in nonassessable dividend-paying stocks, common or preferred, of any solvent corporation other than a corporation engaged solely in the business...
• § 33-11-22 - Authorized Investments Generally -- Equipment Trust Obligations or Certificates
  An insurer may invest in equipment trust obligations or certificates adequately secured and evidencing an interest in transportation equipment, wholly or in part within...
• § 33-11-23 - Authorized Investments Generally -- Loans Secured by Pledge of Securities or by Pledge or Assignment of Life Insurance Policies
  An insurer may invest in loans which are secured by pledge of securities eligible for investment under this article or by the pledge or...
• § 33-11-24 - Authorized Investments Generally -- Loans to Policyholders Secured by Policy
  Reserved. Repealed by Ga. L. 1999, p. 592, § 8, effective January 1, 2000.
• § 33-11-25 - Authorized Investments Generally -- Obligations Secured by First Mortgage or Deed of Trust Upon Improved or Income-Producing Real Property in United States or Canada
  (a) An insurer may invest in: (1) Bonds, notes, or other evidences of indebtedness, in addition to those eligible under Code Section 33-11-20 (corporate...
• § 33-11-25.1 - Authorized Investments Generally -- Security Representing Interest in Pool of Loans Secured by Mortgage or Deed of Trust Upon Property in United States or Canada
  (a) In addition to the investment authority granted to insurers under Code Sections 33-11-20, 33-11-21, and other applicable provisions of this title, an insurer...
• § 33-11-26 - Authorized Investments Generally -- Chattel Mortgage Loans
  (a) In connection with a loan on the security of real estate designed and used primarily for residential purposes only, which loan was acquired...
• § 33-11-27 - Authorized Investments Generally -- Abstract Plant and Equipment and Stocks of Abstract Companies
  (a) In addition to other investments eligible under this article, a title insurer may invest and have invested an amount not exceeding 50 percent...
• § 33-11-28 - Authorized Investments Generally -- Investments Incidental to Preservation or Enhancement of Earnings of Real Property Securing Evidence of Indebtedness Held by Insurer
  (a) If real property securing any evidence of indebtedness held by an insurer is used for agricultural purposes and a proceeding to foreclose the...
• § 33-11-29 - Acquisition or Holding of Real Property -- Generally
  (a) An insurer shall not directly or indirectly acquire or hold real estate except as authorized in this Code section and in Code Sections...
• § 33-11-30 - Acquisition or Holding of Real Property -- Investment of Assets in Real Estate Acquired for Purposes of Leasing
  (a) Authority to make; terms and conditions. Every insurance company organized and doing business by virtue of the laws of this state shall have...
• § 33-11-31 - Acquisition or Holding of Real Property -- Acquisition and Holding of Real Property for Recreation, Hospitalization, Convalescence, and Retirement of Employees
  Subject to prior approval of the Commissioner, an insurer may acquire and hold real property for recreation, hospitalization, convalescence, and retirement purposes of its...
• § 33-11-32 - Acquisition or Holding of Real Property -- Limitation on Investments Pursuant to Code Sections 33-11-30 and 33-11-31
  No investment in real property shall be made by any insurer pursuant to Code Section 33-11-30 or 33-11-31 which will cause the insurer's investment...
• § 33-11-33 - Prohibited Investments; Underwriting of Offering of Securities or Property by Other Persons
  (a) In addition to investments excluded pursuant to other provisions of this title, an insurer shall not directly or indirectly invest in or lend...
• § 33-11-34 - Separate Accounts for Funds Received in Connection With Pension, Retirement, and Profit-Sharing Plans; Investment of Funds; Issuance of Contracts
  Reserved. Repealed by Ga. L. 1999, p. 592, § 9, effective January 1, 2000.
• § 33-11-35 - Separate Accounts for Variable Annuity Contracts; Investment of Funds; Issuance and Sale of Contracts
  Reserved. Repealed by Ga. L. 1999, p. 592, § 10, effective January 1, 2000.
• § 33-11-36 - Separate Accounts for Variable Life Insurance Policies; Investment of Funds; Issuance and Sale of Policies
  Reserved. Repealed by Ga. L. 1999, p. 592, § 11, effective January 1, 2000.
• § 33-11-37 - Investment of Funds in Excess of Reserve and Capital, or Surplus, in Authorized and Approved Investments
  After satisfying requirements of this article, any funds of any domestic insurer in excess of its reserve and capital, if a stock insurer, or...
• § 33-11-38 - Authority of Insurers to Convey Property or Securities in Which Moneys or Assets Invested or Upon Which Loans Made
  Insurance companies organized and doing business by virtue of the laws of this state may sell, assign, transfer, and convey, either with or without...
• § 33-11-39 - Time Limit for Disposal by Insurer of Real Estate
  (a) Except as provided in subsection (d) of this Code section, an insurer shall dispose of real property within time limits as follows: (1)...
• § 33-11-40 - Time Limit for Disposal by Insurer of Personal Property or Securities Deemed Unauthorized Investments
  Any personal property or securities lawfully acquired by an insurer which it could not otherwise have invested in or loaned its funds upon at...
• § 33-11-41 - Effect of Failure of Insurer to Dispose of Real Estate, Personal Property, or Securities
  (a) Any real estate, personal property, or securities lawfully acquired and held by an insurer after expiration of the period for disposal of such...
• § 33-11-42 - Investments of Foreign and Alien Insurers; Place of Domicile
  (a) The investments of foreign and alien insurers shall be as permitted by the laws of their domicile but shall be of a quality...
• § 33-11-43 - Compliance With Secondary Mortgage Market Enhancement Act
  Notwithstanding any provision of the federal Secondary Mortgage Market Enhancement Act of 1984, 15 U.S.C. Section 77r-1, to the contrary, any insurer subject to...

Last modified: October 14, 2016