There is a newer version
of
this Section
2020 Georgia Code
Title 33 - Insurance
Chapter 38 - Georgia Life and Health Insurance Guaranty Association
§ 33-38-10. Duties and Powers of the Commissioner
Universal Citation: GA Code § 33-38-10 (2020)
In addition to the duties and powers enumerated elsewhere in this chapter:
- The Commissioner shall:
- Upon request of the board of directors, provide the association with a statement of the premiums in the appropriate states for each member insurer; and
- When an impairment is declared and the amount of the impairment is determined, serve a demand upon the impaired insurer to make good the impairment within a reasonable time. Notice to the impaired insurer shall constitute notice to its shareholders, if any. The failure of the impaired insurer to comply promptly with such demand shall not excuse the association from the performance of its powers and duties under this chapter; and
- The Commissioner may suspend or revoke, after notice and hearing, the certificate of authority to transact business in this state of any member insurer which fails to pay an assessment when due or fails to comply with the plan of operation.
(Code 1933, § 56-2209, enacted by Ga. L. 1981, p. 1336, § 1; Ga. L. 2012, p. 701, § 1/HB 786; Ga. L. 2020, p. 113, § 8/HB 1050.)
The 2020 amendment, effective July 1, 2020, inserted "impaired" in the last sentence of subparagraph (1)(B) and substituted "transact business" for "transact insurance" in the middle of paragraph (2).
RESEARCH REFERENCES
Am. Jur. 2d.
- 2 Am. Jur. 2d, Administrative Law, § 79 et seq.
C.J.S.- 73 C.J.S., Public Administrative Law and Procedure, § 49 et seq.
Disclaimer: These codes may not be the most recent version. Georgia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
