Official Code of Georgia Annotated

Title 33. INSURANCE · Chapter 38. GEORGIA LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION

33-38-10. Duties and powers of the Commissioner.

Active

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

In addition to the duties and powers enumerated elsewhere in this chapter:
(1)
The Commissioner shall:#
1. (A)
  Upon request of the board of directors, provide the association with a statement of the premiums in the appropriate states for each member insurer; and#
2. (B)
  When an impairment is declared and the amount of the impairment is determined, serve a demand upon the impaired insurer to make good the impairment within a reasonable time. Notice to the impaired insurer shall constitute notice to its shareholders, if any. The failure of the impaired insurer to comply promptly with such demand shall not excuse the association from the performance of its powers and duties under this chapter; and#
(2)
The Commissioner may suspend or revoke, after notice and hearing, the certificate of authority to transact business in this state of any member insurer which fails to pay an assessment when due or fails to comply with the plan of operation.#

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 1933, § 56-2209, enacted by Ga. L. 1981, p. 1336, § 1; Ga. L. 2012, p. 701, § 1/HB 786; Ga. L. 2020, p. 113, § 8/HB 1050. The 2020 amendment, effective July 1, 2020, inserted ‘‘impaired’’ in the last sentence of subparagraph (1)(B) and substituted ‘‘transact business’’ for ‘‘transact insurance’’ in the middle of paragraph (2).

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-ch23-65-(v25)-2020-pdf.pdf, Volume V25, 2020 edition, page 810; merge action: carried; file SHA-256 1cdfeaa4b73e.

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