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Georgia Commons

Código Oficial de Georgia Anotado

Título 33. INSURANCE · Capítulo 14. DOMESTIC STOCK AND MUTUAL INSURERS · Artículo 1. GENERAL PROVISIONS

33-14-25. Procedure for surrender of charter.

Vigente

Actualizado hasta: Including Acts of the 2025 Regular Session of the General Assembly.

El texto siguiente es la ley tal como la imprime el estado, en inglés.

  1. (a)

    Any insurance corporation chartered by the Secretary of State may surrender its charter upon the company filing in the office of the Commissioner of Insurance an application signed with its corporate name and under its corporate seal, stating:#

    1. (1)

      The name of the company and the location of its principal place of business in this state;#

    2. (2)

      The date of its charter and all amendments thereto and the date or dates of renewal or renewals of its charter;#

    3. (3)

      That it desires to surrender its charter and franchise to the state;#

    4. (4)

      A certificate attested to by two officers of the company that the procedure required by Code Section 33-14-24 has been carried out; and#

    5. (5)

      Any other information deemed necessary by the Commissioner of Insurance.#

  2. (b)

    Upon receipt thereof, the Commissioner shall take such action to investigate the proposed surrender to determine if the rights of policyholders, creditors, stockholders or members, and third party claimants under liability policies of the insurer have been paid or properly provided for in a fair and equitable manner. The Commissioner shall after making his or her determination issue under his or her hand and official seal a certificate approving or disapproving the application for surrender of the charter and shall transmit a copy of such certificate of approval to the Secretary of State. If the Commissioner does not approve the application, the Commissioner shall notify the insurer in writing of his or her reasons for not approving the application for surrender of the charter.#

  3. (c)

    The fee and other requirements set out in Code Section 33-14-5 shall be applicable to a surrender of charter under this Code section.#

  4. (d)

    Upon receipt of the certificate of approval of the surrender from the Commissioner, the Secretary of State shall issue under the seal of the state a certificate dissolving the insurer; and the Secretary of State shall record the application, the certificate of approval of the Commissioner, and the certificate dissolving the insurer.#

Las notas siguientes se imprimen con la sección, pero no son ley promulgada (O.C.G.A. § 1-1-1(c)). Se muestran aparte del texto.

History

Code 1933, § 56-1545, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1982, p. 3, § 33; Ga. L. 2000, p. 1307, § 5; Ga. L. 2025, p. 652, § 7/HB 410, effective May 14, 2025.

Amendments

The 2025 amendment, effective May 14, 2025, deleted “in triplicate,” following “an application” in subsection (a); substituted “The fee and other requirements set out in Code Section 33-14-5” for “The fee and publication requirements set out in subsections (a) through (c) of Code Section 33-14-5” in subsection (c); and, in subsection (d), deleted “the certificate of the judge of the probate court as to the publication of the application and” following “Upon receipt of” and deleted “the certificate of the judge of the probate court,” following “record the application,”.

Leer la página oficial (el PDF del estado, abierto en la página de la que se leyó este texto).

Actualizado hasta: Including Acts of the 2025 Regular Session of the General Assembly.

Texto leído de t33-ch1-22-(v24)-pdf.pdf, Volumen V24, edición 2020, suplemento de 2025, páginas 173 a 174; acción de fusión: replaced; SHA-256 del archivo 56140d876051.