---
title: O.C.G.A. § 33-14-40. Reinsurance of risks generally; bulk insurance agreements.
collection: code
id: 33-14-40
cite_as: O.C.G.A. § 33-14-40 (2025)
canonical_url: https://georgiacommons.org/code/33-14-40
md_url: https://georgiacommons.org/code/33-14-40.md
text_url: https://georgiacommons.org/code/33-14-40/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t33-ch1-22-(v24)-2020-pdf.pdf?sfvrsn=a873240d_0#page=681
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/33-14.md
previous: https://georgiacommons.org/code/33-14-27.md
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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: INSURANCE / DOMESTIC STOCK AND MUTUAL INSURERS / DOMESTIC STOCK INSURERS
---

# O.C.G.A. § 33-14-40. Reinsurance of risks generally; bulk insurance agreements.

(a) A domestic stock insurer may accept reinsurance for the same kinds of insurance and within the same limits as it is authorized to transact direct insurance unless such reinsurance is prohibited by its charter.

(b) A domestic stock insurer may reinsure all or substantially all of its business in force or substantially all of a major class thereof with another insurer by an agreement of bulk insurance; but the agreement shall not become effective unless filed with and approved in writing by the Commissioner.

(c) The Commissioner shall approve agreements of bulk insurance within 60 days after their filing unless he finds that it is inequitable to the stockholders of the domestic insurer or would substantially reduce the protection or service to its policyholders. If the Commissioner does not approve the agreement, he shall so notify the insurer in writing specifying his reasons therefor.

## History

Code 1933, § 56-1538, enacted by Ga. L. 1960, p. 289, § 1.