Official Code of Georgia Annotated

Title 33. INSURANCE · Chapter 37. INSURERS REHABILITATION AND LIQUIDATION · Article 3. PROCEDURE FOR REHABILITATION

33-37-19. Petition for dissolution of corporate existence.

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

The Commissioner may petition for an order dissolving the corporate existence of a domestic insurer or the United States branch of an alien insurer domiciled in this state at the time he applies for a liquidation order. The court shall order dissolution of the corporation upon petition by the Commissioner upon or after the granting of a liquidation order. If the dissolution has not previously been ordered, it shall be effected by operation of law upon the discharge of the liquidator if the insurer is insolvent but may be ordered by the court upon the discharge of the liquidator if the insurer is under a liquidation order for some other reason.

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 1981, § 33-37-19, enacted by Ga. L. 1991, p. 1424, § 7.

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

Text read from t33-ch23-65-(v25)-2020-pdf.pdf, Volume V25, 2020 edition, pages 744 to 745; merge action: carried; file SHA-256 1cdfeaa4b73e.