Official Code of Georgia Annotated

Title 33. INSURANCE · Chapter 3. AUTHORIZATION AND GENERAL REQUIREMENTS FOR TRANSACTION OF INSURANCE

33-3-18. Administrative supervision or suspension of certificate of authority for cause.

Active

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

The Commissioner may, without advance notice or a hearing thereon, place an insurer under administrative supervision or suspend immediately the certificate of authority of any insurer:
(1)
As to which proceedings for receivership, conservatorship, rehabilitation, or other delinquency proceedings have been commenced in any state by the public insurance supervisory official of such state;#
(2)
Whose authority to do business in any state has been revoked, suspended, or restricted in any way by the public insurance supervisory official of such state; or#
(3)
If upon examination or at any other time it appears in the Commissioner’s discretion that:#
1. (A)
  The insurer’s condition renders the continuance of its business hazardous to the public or to its insureds;#
2. (B)
  The insurer exceeded its powers granted under its certificate of authority and applicable law;#
3. (C)
  The insurer has failed to comply with the applicable provisions of this title;#
4. (D)
  The business of the insurer is being conducted fraudulently; or#
5. (E)
  The insurer gives its consent.#

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, § 56-317.2, enacted by Ga. L. 1969, p. 585, § 1; Ga. L. 1991, p. 1424, § 1; Ga. L. 1992, p. 2877, § 6.

For note on 1991 amendment of this Code section, see 8 Ga. St. U.L. Rev. 89 (1992).

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 121 to 122; merge action: carried; file SHA-256 4ecec175d949.