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Official Code of Georgia Annotated

Title 33. INSURANCE · Chapter 41. CAPTIVE INSURANCE COMPANIES · Article 1. GENERAL PROVISIONS

33-41-12. Assets.

Active

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

  1. For the purposes of determining the financial condition of a captive insurance company, including, but not limited to, the maintenance of adequate reserves pursuant to Code Section 33-41-13, the reporting of business affairs pursuant to Code Section 33-41-15, and the examinations and investigations pursuant to Code Section 33-41-16, there shall be allowed as assets of a captive insurance company:

  2. (1)

    Those assets described in Code Section 33-10-1;#

  3. (2)

    Those assets otherwise authorized by Code Sections 33-41-8 and 33-41-14;#

  4. (3)

    Obligations for premium payments, provided that such obligations are secured by letters of credit, as described in Code Section 33-41-9; and#

  5. (4)

    Assets that are approved by the Commissioner as admitted assets under rules adopted pursuant to this chapter.#

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, § 33-41-12, enacted by Ga. L. 1988, p. 966, § 2; Ga. L. 2016, p. 825, § 1/SB 347.

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, pages 878 to 879; merge action: carried; file SHA-256 1cdfeaa4b73e.