33-11-85. Limitations to insurer’s investment.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

The limitations of paragraphs (1) and (2) of Code Section 33-11-5 shall not apply to an insurer’s investment in an investment pool; provided, however, that an insurer shall not acquire an investment in an investment pool under this article if, as a result of and after giving effect to the investment, the aggregate amount of investments then held by the insurer under this article:
(1)
In any one investment pool would exceed 10 percent of its admitted assets;#
(2)
In all investment pools investing in investments permitted under paragraph (2) of subsection (a) of Code Section 33-11-83 would exceed 25 percent of its admitted assets; or#
(3)
In all investment pools would exceed 35 percent of its admitted assets.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

Code 1981, § 33-11A-6, enacted by Ga. L. 1997, p. 1042, § 1; Code 1981, § 33-11-85, as redesignated by Ga. L. 1999, p. 592, §§ 13, 15.

Pursuant to Code Section 28-9-5, in 1999, ‘‘Code Section 33-11-83’’ was substituted for ‘‘Code Section 33-11A-4’’ in paragraph (2).

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t33-ch1-22-(v24)-2020-pdf.pdf, Volume V24, 2020 edition, page 578; merge action: carried; file SHA-256 4ecec175d949.