Official Code of Georgia Annotated

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

33-41-24. Rule making authority.

Active

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

The Commissioner may adopt rules establishing standards to ensure that a pure captive insurance company’s parent or any of its affiliated companies is able to exercise control of the risk management function of any controlled unaffiliated business to be insured by the pure captive insurance company; provided, however, that, until such time as rules under this Code section are adopted, the Commissioner may approve or deny the coverage of such risks by a pure captive insurance company on a case by case basis.

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, § 33-41-24, enacted by Ga. L. 2019, p. 533, § 2-12/HB 99.

Effective date

This Code section became effective July 1, 2019.

Editor's notes

Ga. L. 2019, p. 533, § 2-11/HB 99, effective July 1, 2019, repealed the former Code section and enacted the current Code section. The former Code section, relating to inapplicability of inconsistent provisions, was based on Code 1981, § 33-41-24, enacted by Ga. L. 1988, p. 966, § 2; Ga. L. 2016, p. 825, § 1/SB 347.

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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, page 887; merge action: carried; file SHA-256 1cdfeaa4b73e.

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