Official Code of Georgia Annotated

Title 33. INSURANCE · Chapter 14. DOMESTIC STOCK AND MUTUAL INSURERS · Article 1. GENERAL PROVISIONS

33-14-16. Participating and nonparticipating policies; earned dividend not to be made contingent upon payment of renewal premium.

Active

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

(a)
If so provided in its charter, a domestic stock or domestic mutual insurer may issue any or all of its policies with or without participation in profits, savings, or unabsorbed portions of premiums, may classify policies issued on a participating or nonparticipating basis, and may determine the right to participate and the extent of participation of any class or classes of policies. Any classification or determination shall be reasonable and shall not unfairly discriminate as between policyholders within the same classification.#
(b)
No dividend, otherwise earned, shall be made contingent upon the payment of a renewal premium on any policy.#

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 1933, § 56-1521, enacted by Ga. L. 1960, p. 289, § 1.

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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 671; merge action: carried; file SHA-256 4ecec175d949.