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Official Code of Georgia Annotated

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

33-41-19. Rates, underwriting rules, and policy forms.

Active

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

  1. (a)

    No captive insurance company shall be required to join or use the rates, rating systems, underwriting rules, or policy or bond forms of a rating or advisory organization as defined in Code Section 33-9-2.#

  2. (b)

    No captive insurance company shall be required to file its premium rates or policy forms with, or seek approval of such rates or forms from, the Commissioner or any other authority of this state. However, the Commissioner shall impose minimum premiums upon association captive insurance companies which write motor vehicle liability insurance coverage required by law and do not participate in the Georgia Insurers Insolvency Pool.#

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, § 33-41-19, enacted by Ga. L. 1988, p. 966, § 2; Ga. L. 2016, p. 825, § 1/SB 347; Ga. L. 2019, p. 533, § 2-9/HB 99; Ga. L. 2020, p. 493, § 33/SB 429. The 2019 amendment, effective July 1, 2019, substituted ‘‘Reserved.’’ for the former provisions of subsection (c), which read: ‘‘Each captive insurance company shall provide the following notice in ten-point type on the front page and declaration page on all policies and on the front page of all applications for policies: ‘‘This captive insurance company is not subject to all of the insurance laws and regulations of the State of Georgia. State insurers insolvency guaranty funds are not available to the policyholders of this captive insurance company.’’ The 2020 amendment, effective July 29, 2020, part of an Act to revise, modernize, and correct the Code, deleted former subsection (c) which was designated as reserved.

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 882; merge action: carried; file SHA-256 1cdfeaa4b73e.