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Georgia Commons

Código Oficial de Georgia Anotado

Título 33. INSURANCE · Capítulo 41. CAPTIVE INSURANCE COMPANIES · Artículo 1. GENERAL PROVISIONS

33-41-9. Letters of credit.

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 letter of credit used to meet the requirements set forth in this chapter shall be:#

    1. (1)

      Clean, irrevocable, and unconditional;#

    2. (2)

      Issued by a bank approved by the Commissioner, which is either a bank chartered by the State of Georgia or a national bank which is a member of the Federal Reserve System;#

    3. (3)

      Presentable and payable within the State of Georgia; and#

    4. (4)

      Provided in conformity with any other requirements established by the Commissioner.#

  2. (b)

    The Commissioner may require any captive insurance company to draw upon its letters of credit at any time, in amounts determined by the Commissioner, if the Commissioner determines that such action is necessary for the protection of the interests of the captive insurance company’s policyholders.#

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 1981, § 33-41-9, enacted by Ga. L. 1988, p. 966, § 2; Ga. L. 2016, p. 825, § 1/SB 347; Ga. L. 2019, p. 533, § 2-7/HB 99. The 2019 amendment, effective July 1, 2019, substituted ‘‘this chapter’’ for ‘‘Code Sections 33-41-8, 33-41-12, and 33-41-14’’ in the introductory paragraph of subsection (a).

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-ch23-65-(v25)-2020-pdf.pdf, Volumen V25, edición 2020, página 875; acción de fusión: carried; SHA-256 del archivo 1cdfeaa4b73e.