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Official Code of Georgia Annotated

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

33-41-7. Directors or managers.

Active

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

  1. (a)

    The affairs of every captive insurance company shall be managed by not less than three directors or managers.#

  2. (b)

    At least one of the directors or managers of every captive insurance company shall be a resident of this state.#

  3. (c)

    Every captive insurance company shall report to the Commissioner within 30 days after any change in its directors or managers including in its report a statement of the business and professional background and affiliations of any new director or manager.#

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, § 33-41-7, enacted by Ga. L. 1988, p. 966, § 2; Ga. L. 2015, p. 377, § 1-3/HB 552; Ga. L. 2016, p. 825, § 1/SB 347; Ga. L. 2017, p. 682, § 6/SB 173.

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