---
title: O.C.G.A. § 33-15-45. Conversion to mutual life insurance company.
collection: code
id: 33-15-45
cite_as: O.C.G.A. § 33-15-45 (2025)
canonical_url: https://georgiacommons.org/code/33-15-45
md_url: https://georgiacommons.org/code/33-15-45.md
text_url: https://georgiacommons.org/code/33-15-45/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=737
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/33-15.md
previous: https://georgiacommons.org/code/33-15-44.md
next: https://georgiacommons.org/code/33-15-60.md
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 / FRATERNAL BENEFIT SOCIETIES / FORMATION AND PETITIONS FOR CHARTER; AMENDMENTS OF LAWS; REINSURANCE; CONSOLIDATIONS AND MERGERS; CONVERSIONS
---

# O.C.G.A. § 33-15-45. Conversion to mutual life insurance company.

Any domestic fraternal benefit society may be converted and licensed as a mutual life insurance company by compliance with all the applicable requirements of Chapter 14 of this title if the plan of conversion has been approved by the Commissioner. A plan of conversion shall be prepared in writing by the board of directors setting forth in full the terms and conditions of conversion. The affirmative vote of two-thirds of all members of the supreme governing body at a regular or special meeting shall be necessary for the approval of such plan. No such conversion shall take effect unless and until approved by the Commissioner who may give such approval if the Commissioner finds that the proposed change is in conformity with the requirements of law and not prejudicial to the certificate holders of the society.

## History

Code 1981, § 33-15-45, enacted by Ga. L. 1993, p. 1744, § 1.