Georgia Code, Title 33, Chapter 14, Article 1 - General Provisions
- § 33-14-1 - Applicability of Chapter
This chapter shall govern domestic mutual and stock insurers.
- § 33-14-2 - Definitions
As used in this chapter, the term: (1) "Mutual insurer" means an incorporated insurer without capital stock or shares which is owned and governed...
- § 33-14-3 - Applicability of General Corporation Statutes
The applicable statutes of this state relating to the powers and procedures of domestic private corporations formed for profit shall apply to domestic stock...
- § 33-14-4 - Execution and Contents of Application for Charter
(a) Five or more individuals of the age of 18 years or more of good moral character who have not been convicted of any...
- § 33-14-5 - Filing of Application for Charter; Fee; Certification and Publication of Application; Approval or Disapproval of Charter
(a) The application for charter with any and all exhibits that may be included with the application shall be filed in triplicate in the...
- § 33-14-6 - Grant of Corporate Powers and Privileges; Issuance of Certificate of Incorporation; Recordation of Documents; Appointment of Attorney for Acceptance of Service of Process
(a) All corporate powers and privileges to insurance companies shall be issued and granted by the Secretary of State upon the terms, liabilities, and...
- § 33-14-7 - Name of Corporation
(a) No name shall be adopted by a domestic mutual or stock insurance corporation which is so similar to any name already in use...
- § 33-14-8 - Procedures for Amendment or Renewal of Charter
(a) A domestic insurer may amend its charter for any lawful purpose by written authorization by the holders of a majority of the voting...
- § 33-14-9 - Powers of Corporations Generally
Every corporation organized under this title shall have the same corporate powers as are conferred upon private corporations except where inconsistent with this chapter.
- § 33-14-10 - Sale of Subscriptions for Insurance Securities and Sale Offer of Insurance Securities
(a) As used in this Code section, "insurance securities" means the securities of an insurer who is the issuer of a security as the...
- § 33-14-11 - Charitable, Scientific, or Educational Donations
An insurer shall have power to make donations for the public welfare or for charitable, scientific, or educational purposes subject to such limitations, if...
- § 33-14-12 - Number, Qualifications, Election, and Terms of Directors
(a) The affairs of every domestic insurer shall be managed by not less than three directors.(b) Directors must be elected by the members or...
- § 33-14-13 - Maintenance of Principal Place of Business and Records; Maintenance of Assets Within State; Removal of Records or Assets From State Without Approval
(a) Every domestic insurer shall have and maintain its principal place of business in this state, and shall keep in its principal place of...
- § 33-14-14 - Filing and Terms of Management and Exclusive Agency Contracts; Approval or Disapproval of Contracts by Commissioner
(a) No domestic insurer shall make any contract whereby any person is granted or is to enjoy in fact the management of the insurer...
- § 33-14-15 - Borrowing of Money
(a) A domestic stock or mutual insurer may borrow money to defray the expenses of its organization, to provide it with surplus funds, or...
- § 33-14-16 - Participating and Nonparticipating Policies; Earned Dividend Not to Be Made Contingent Upon Payment of Renewal Premium
(a) If so provided in its charter, a domestic stock or domestic mutual insurer may issue any or all of its policies with or...
- § 33-14-17 - Voting Securities
(a) As used in this Code section, the term "voting security" means any instrument which in law or by contract gives the holder the...
- § 33-14-18 - Filing of Registration Statement by Holding Company Prior to Offering of Stock for Sale to Public; Contents of Statement; Approval or Disapproval of Sale by Commissioner
(a) Any corporation or other form of business entity which is organized for the purpose of organizing or holding the stock of a domestic...
- § 33-14-19 - Regulation of Financial Interests in and Transactions With Insurers by Officers, Directors, Committee Members, or Employees
(a) Any officer, director, member of any committee, or an employee of a domestic insurer who is charged with the duty of investing or...
- § 33-14-20 - Limitation on Commission Received by Persons Selling Stock of Insurers; Participation by Corporate Officers in Commissions
(a) No officer, agent, or other person selling or negotiating stock in any domestic insurance company shall receive either directly or indirectly more than...
- § 33-14-21 - Limitation on Organizational Expenses
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...
- § 33-14-22 - Proceedings for Correction of Deficiency in Assets or Capital of Insurer; Institution of Delinquency Proceedings Upon Failure to Correct Deficiency
(a) If the capital of a domestic stock insurer becomes impaired or the assets of a domestic mutual insurer are less than its liabilities...
- § 33-14-23 - Extinguishment of Charters of Corporations Not Actively Engaged in Business; Automatic Extinguishment of Charter Upon Merger or Consolidation
(a) The corporate charter of any other corporation formed under the laws of this state for the purpose of becoming an insurer, and which...
- § 33-14-24 - Procedure for Voluntary Dissolution Generally; Effective Date of Dissolution; Conditions Precedent to Effectuation of Dissolution
(a) If, while a domestic stock or mutual insurer is fully solvent and it is deemed by its board of directors to be in...
- § 33-14-25 - Procedure for Surrender of Charter
(a) Any insurance corporation chartered by the Secretary of State may surrender its charter upon the company filing in the office of the Commissioner...
- § 33-14-26 - Powers and Duties of Directors As Trustees Upon Expiration of Period of Corporate Existence; Filling of Vacancies and Replacement of Directors
Upon the dissolution of a domestic stock or mutual insurer under Code Section 33-14-25, or upon the expiration of the period of its corporate...
- § 33-14-27 - Continuance of Corporate Existence Subsequent to Dissolution or Expiration
All domestic stock and mutual insurance corporations, whether they expire by their own limitation or are otherwise dissolved, shall nevertheless be continued for a...
Last modified: October 14, 2016