Georgia Commons

Title 33. INSURANCE

Chapter 11. INVESTMENTS

76 sections · 33-11-1 to 33-11-89

Article 1. INVESTMENTS OF CERTAIN INSURERS

  1. 33-11-1Scope of article.
  2. 33-11-2Eligible investments; investment limitations.
  3. 33-11-3Acquisition of securities or investments by insurers generally.
  4. 33-11-4Authorization of loan or investment of insurer.
  5. 33-11-5Required investments; limitations.
  6. 33-11-6Authorized investments generally; cash or deposits.
  7. 33-11-7Securities of open-end management investment company or investment trust.
  8. 33-11-8Foreign securities.
  9. 33-11-9Obligations of government of United States generally.
  10. 33-11-10Securities which are not evidenced by certificates.
  11. 33-11-11Loans guaranteed by government of United States.
  12. 33-11-12Securities of states of United States, District of Columbia, or government of Canada.
  13. 33-11-12.1Investment in direct obligations of foreign governments.
  14. 33-11-13Obligations of political subdivisions or public authorities of states of United States, District of Columbia, or government of Canada.
  15. 33-11-14Industrial development obligations.
  16. 33-11-14.1Securities of federal agencies.
  17. 33-11-15Securities of public housing authorities or agencies.
  18. 33-11-16Obligations issued, assumed, or guaranteed by International Bank for Reconstruction and Development or International Finance Corporation.
  19. 33-11-17Obligations issued, assumed, or guaranteed by Asian Development Bank.
  20. 33-11-18Obligations issued, assumed, or guaranteed by Inter-American Development Bank.
  21. 33-11-19Loans guaranteed by Georgia Higher Education Assistance Corporation.Reserved
  22. 33-11-19.1Obligations issued, assumed, or guaranteed by African Development Bank.
  23. 33-11-19.2Loans guaranteed by United Student Aid Funds, Inc.
  24. 33-11-20Obligations of corporations generally.
  25. 33-11-21Corporate stocks.
  26. 33-11-22Equipment trust obligations or certificates.
  27. 33-11-23Loans secured by pledge of securities or by pledge or assignment of life insurance policies.
  28. 33-11-24Loans to policyholders secured by policy.Repealed
  29. 33-11-25Obligations secured by first mortgage or deed of trust upon improved or income-producing real property in United States or Canada.
  30. 33-11-25.1Security representing interest in pool of loans secured by mortgage or deed of trust upon property in United States or Canada.
  31. 33-11-26Chattel mortgage loans.
  32. 33-11-27Abstract plant and equipment and stocks of abstract companies.
  33. 33-11-28Investments incidental to preservation or enhancement of earnings of real property securing evidence of indebtedness held by insurer.
  34. 33-11-29Acquisition or holding of real property generally.
  35. 33-11-30Investment of assets in real estate acquired for purposes of leasing.
  36. 33-11-31Acquisition and holding of real property for recreation, hospitalization, convalescence, and retirement of employees.
  37. 33-11-32Limitation on investments pursuant to Code Sections 33-11-30 or 33-11-31.
  38. 33-11-33Prohibited investments; underwriting of offering of securities or property by other persons.
  39. 33-11-34Separate accounts for funds received in connection with pension, retirement, and profit-sharing plans; investment of funds; issuance of contracts.Repealed
  40. 33-11-35Separate accounts for variable annuity contracts; investment of funds; issuance and sale of contracts.Repealed
  41. 33-11-36Separate accounts for variable life insurance policies; investment of funds; issuance and sale of policies.Repealed
  42. 33-11-37Investment of funds in excess of reserve and capital, or surplus, in authorized and approved investments.
  43. 33-11-38Authority of insurers to convey property or securities in which moneys or assets invested or upon which loans made.
  44. 33-11-39Time limit for disposal by insurer of real estate.
  45. 33-11-40Time limit for disposal by insurer of personal property or securities deemed unauthorized investments.
  46. 33-11-41Effect of failure of insurer to dispose of real estate, personal property, or securities.
  47. 33-11-42Investments of foreign and alien insurers; place of domicile.
  48. 33-11-43Compliance with Secondary Mortgage Market Enhancement Act.

Article 2. INVESTMENTS OF LIFE, ACCIDENT AND SICKNESS, PROPERTY, AND CASUALTY INSURERS

  1. 33-11-50Legislative purpose; application of article; separate accounts.
  2. 33-11-51Definitions.
  3. 33-11-52Determining minimum financial security benchmark.
  4. 33-11-53Factors to be considered in determining prudence.
  5. 33-11-54Written plan and policy; duty of board of directors.
  6. 33-11-55Investments eligible for support of outstanding liabilities.
  7. 33-11-56Conditions for engaging in derivative transactions.
  8. 33-11-57Requirements regarding admitted assets at time of acquisition; nonadmitted assets; relation of investment limitation; qualification of investments; documentation; authority of Commissioner; insurance futures.
  9. 33-11-58Percentage of securities from single issuer; assignment of excesses; compliance; investment in government obligations.
  10. 33-11-59Obligations in different currencies.
  11. 33-11-60Prohibited investments and activities.
  12. 33-11-61Using investment assets to satisfy minimum assets requirements; qualification of admitted assets; determining financially hazardous insurer.
  13. 33-11-62Retention of personnel to assist Commissioner; confidentiality.
  14. 33-11-63Determination by Commissioner of noncompliance; reasonable additional restrictions; consideration of other assets by Commissioner.
  15. 33-11-64Conditions under which insurer shall not acquire an investment; special rated credit instruments.
  16. 33-11-65Establishment of separate accounts by domestic life insurance companies.
  17. 33-11-66Cumulative nature of Code section; variable annuity contract; separate accounts; conduct of business; licensed or organized to do business in state; Commissioner’s role.
  18. 33-11-67Variable contract insurance policies; separate accounts; power of company; statement of essential features in determining benefits; certificate of authority; Commissioner’s role; insurance license required.

Article 3. INVESTMENT POOLS

  1. 33-11-80Short title.
  2. 33-11-81Applicability.
  3. 33-11-82Definitions.
  4. 33-11-83Authorization and requirements for insurers acquiring investments in investment pools.
  5. 33-11-84Qualification in investment pool.
  6. 33-11-85Limitations to insurer’s investment.
  7. 33-11-86Management of investment pool.
  8. 33-11-87Notification to Commissioner; ownership; inspection.
  9. 33-11-88Business entity requirement.
  10. 33-11-89Standards not applicable; reporting.