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Official Code of Georgia Annotated

Title 33. INSURANCE · Chapter 15. FRATERNAL BENEFIT SOCIETIES · Article 6. VALUATION STANDARDS; LICENSES AND RENEWALS; EXAMINATIONS; VIOLATIONS; AGENTS OR REPRESENTATIVES

33-15-106. Deficiencies of foreign or alien society; notice; enforcement procedures.

Active

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

  1. (a)

    When the Commissioner upon investigation finds that a foreign or alien society transacting or applying to transact business in this state:#

    1. (1)

      Has exceeded its powers;#

    2. (2)

      Has failed to comply with any of the provisions of this chapter;#

    3. (3)

      Is not fulfilling its contracts in good faith; or#

    4. (4)

      Is conducting its business fraudulently or in a manner hazardous to its members or creditors or the public,#

    5. the Commissioner shall notify the society of such deficiency or deficiencies in the manner and under the procedures provided by Chapter 2 of this title.

  2. (b)

    Nothing contained in this Code section shall be taken or construed as preventing any such society from continuing in good faith all contracts made in this state during the time such society was legally authorized to transact business in this state.#

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.

History

Code 1981, § 33-15-106, enacted by Ga. L. 1993, p. 1744, § 1.

Read the official page (the state's PDF, opened at the page this text was read from).

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, pages 750 to 751; merge action: carried; file SHA-256 4ecec175d949.