Georgia Commons

Title 33. INSURANCE

Chapter 37. INSURERS REHABILITATION AND LIQUIDATION

61 sections · 33-37-1 to 33-37-58

Article 1. GENERAL PROVISIONS

  1. 33-37-1Construction and purpose of chapter.
  2. 33-37-2Applicability.
  3. 33-37-3Definitions.
  4. 33-37-4Jurisdiction; exclusiveness of remedy; venue; change of venue.
  5. 33-37-5Grounds for restraining orders and injunctions; rights regarding collateral pledged by insurer-member; process and timeline; options for renewal or restructuring of loan.
  6. 33-37-6Cooperation with Commissioner mandated; penalties for failure to cooperate.
  7. 33-37-7Effect of enactment of chapter on pending proceedings.Repealed
  8. 33-37-8Prohibition against release from proceedings or continuing business.
  9. 33-37-8.1Immunity of receivers and employees; indemnification; attorney’s fees; approval of settlement.

Article 2. PROCEDURE FOR DELINQUENCY PROCEEDING

  1. 33-37-9Commencing formal delinquency proceeding; ex parte seizure order; hearing and review of order; notice.
  2. 33-37-10Confidentiality of proceedings.

Article 3. PROCEDURE FOR REHABILITATION

  1. 33-37-11Petition for rehabilitation; grounds.
  2. 33-37-12Order to rehabilitate; Commissioner to be appointed as rehabilitator; effect of order.
  3. 33-37-13Authority of rehabilitator; additional remedies; rehabilitation plan.
  4. 33-37-14Effect of rehabilitation order on pending litigation; standing of guaranty association to participate in rehabilitation.
  5. 33-37-15Petition for order of liquidation; defense; payment of costs and expenses; order terminating rehabilitation.
  6. 33-37-16Grounds for order of liquidation.
  7. 33-37-17Commissioner appointed as liquidator; seizure and administration of assets; effect of filing order; petition for declaration of insolvency; financial reports; plan for continued performance pending appeal.
  8. 33-37-18Termination of policy coverage.
  9. 33-37-19Petition for dissolution of corporate existence.
  10. 33-37-20Powers of liquidator.
  11. 33-37-21Notice of liquidation.
  12. 33-37-22Responsibility of agent to provide information; penalty for violation.
  13. 33-37-23Stay of collateral proceedings against insurer; authority of liquidator to intervene in, and defend, out-of-state action.
  14. 33-37-24Time for filing list of assets; reducing assets to liquidity.
  15. 33-37-25Fraudulent transfers or obligations incurred; avoidance.
  16. 33-37-26Transfer of property in good faith; recording copy of petition as notice of seizure of property.
  17. 33-37-26.1Limitations on ability of receiver to void transfer of certain property in connection with federal home loan bank security agreement; transfer avoidance under certain circumstances.
  18. 33-37-27Preferential transfers; liens; when transfer perfected; avoidance; transfer for new and contemporaneous consideration; payments to attorneys; personal liability of participants.
  19. 33-37-28Disallowing preferred creditor’s claims.
  20. 33-37-29Mutual debts and credits.
  21. 33-37-30Liquidator’s report to court; assessment against members of insurer; procedure when assessment not paid.
  22. 33-37-31Liability of reinsurers.
  23. 33-37-31.1Assumption of obligations by a guaranty association; reinsurance; mandatory negotiations between reinsurer and receiver; construction with other statutory provisions.
  24. 33-37-32Premiums due during pendency of liquidation action; penalties for violation; notice; right to appeal.
  25. 33-37-33Application for approval of proposal to disburse assets; notice.
  26. 33-37-34Proof of claims; late filing.
  27. 33-37-35Contents of proof of claim; effect of judgment or order within four months of, or after, filing petition for liquidation.
  28. 33-37-36Third-party contingent claim; claims due in future; claims under employment contracts.
  29. 33-37-37Third-party claim against insured.
  30. 33-37-38Procedure when claim denied.
  31. 33-37-39When third person subrogated to rights of creditor.
  32. 33-37-40Determining value of security held by secured creditor.
  33. 33-37-41Priority of distribution of claims.
  34. 33-37-42Authority of liquidator to compound, compromise, or negotiate claims; report to court.
  35. 33-37-43Payment of distributions.
  36. 33-37-44Disposition of unclaimed funds subject to distribution.
  37. 33-37-45Liquidator’s application for discharge.
  38. 33-37-46Reopening liquidation proceedings.
  39. 33-37-47Retention or destruction of records.
  40. 33-37-48Receivership audits.

Article 4. LIQUIDATION PROCEEDINGS

  1. 33-37-49Commissioner appointed as conservator of alien or foreign insurer’s property; grounds.
  2. 33-37-50Commissioner appointed as liquidator of foreign or alien insurer’s assets; grounds.
  3. 33-37-51Title to property of insurer domiciled in another state; rights of resident claimants.
  4. 33-37-52Commissioner as ancillary receiver for insurer not domiciled in this state.
  5. 33-37-53Commissioner’s cooperation with officials of domiciliary state of foreign or alien insurer.
  6. 33-37-54Rights of nonresident claimants in proceeding against domiciliary insurer.
  7. 33-37-55Rights of resident claimants in proceeding in another state against nondomiciliary insurer.
  8. 33-37-56Stay of proceedings during pendency of liquidation proceeding.
  9. 33-37-57Superiority of order of distribution issued by domiciliary state; priority of payment and claims; rights of secured creditors.
  10. 33-37-58Failure of ancillary receiver to transfer assets.