reglab/housing_qa huggingface dataset:
GA Code § 33-14-14 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 14 - Domestic Stock and Mutual Insurers|Article 1 - General Provisions|§ 33-14-14. Filing and Terms of Management and Exclusive Agency Contracts; Approval or Disapproval of Contracts by Commissioner

  No domestic insurer shall make any contract whereby any person is granted or is to enjoy in fact the management of the insurer to the substantial exclusion of its board of directors or to have the controlling or preemptive right to produce substantially all insurance business for the insurer unless the contract is filed with and approved by the Commissioner. The contract shall be deemed approved unless disapproved by the Commissioner within 45 days after date of filing, subject to such reasonable extension of time as the Commissioner may require by notice given within such 45 days. Any disapproval shall be delivered to the insurer in writing, stating the grounds therefor.   Any contract shall provide that any manager or producer of its business shall within 90 days after expiration of each calendar year furnish the insurer's board of directors a written statement of amounts received under or on account of the contract and amounts expended under or on account of the contract during the calendar year, including the emoluments received therefrom by the respective directors, officers, and other principal management personnel of the manager or producer, with such classification of items and further detail as the insurer's board of directors may reasonably require.   The Commissioner shall disapprove any contract if he finds that it:   Subjects the insurer to excessive charges;   Is to extend for an unreasonable length of time;   Does not contain fair and adequate standards of performance; or   Contains other inequitable provision or provisions which impair the proper interest of stockholders or members of the insurer.      (Code 1933, § 56-1532, enacted by Ga. L. 1960, p. 289, § 1.)
GA Code § 33-14-15 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 14 - Domestic Stock and Mutual Insurers|Article 1 - General Provisions|§ 33-14-15. Borrowing of Money

  A domestic stock or mutual insurer may borrow money to defray the expenses of its organization, to provide it with surplus funds, or for any purpose required by its business upon a written agreement that the money is required to be repaid only out of the insured's surplus in excess of that stipulated in the agreement. The agreement may provide for interest not exceeding a reasonable rate per annum which interest shall or shall not constitute a liability as provided in said agreement.   Money so borrowed together with interest on the borrowed money if so stipulated in the agreement shall not be considered on the financial statements of the insurer as a legal liability or be the basis of any setoff; but until repaid, financial statements filed or published by the insurer shall show as a footnote thereto the amount of borrowed money then unpaid together with any interest on the money accrued but unpaid. No borrowed surplus shall be returned to the lender except out of earned surplus in excess of that surplus required by this title to transact the kind of insurance for which the company is authorized; provided, however, that on liquidation of the company said borrowed surplus will be paid off out of any assets remaining after the payment of all other liabilities of the companies.   In advance of any such loan the insurer shall file with the Commissioner a statement of the purposes of the loan and a copy of the proposed loan agreement which shall be subject to the Commissioner's approval. The loan and agreement shall be deemed approved unless within 45 days after date of such filing with the Commissioner the insurer is notified in writing of the Commissioner's disapproval and the reasons for the disapproval. The Commissioner shall so disapprove any such proposed loan or agreement if he finds that the loan is reasonably unnecessary or excessive for the purpose intended, that the terms of the loan agreement are not fair and equitable to the parties, to other similar lenders, if any, or to the insurer, that it is not fair to policyholders, or that the information so filed by the insurer is inadequate.   Any loan to a mutual insurer or a substantial portion of the loan shall be repaid by the insurer when no longer reasonably necessary for the purpose originally intended. No repayment of the loan shall be made by a mutual insurer unless pursuant to regulations made by the Commissioner.   This Code section shall not apply to loans obtained by the insurer in the ordinary course of business from banks and other financial institutions nor to loans secured by pledge of assets.    (Code 1933, § 56-1520, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1969, p. 490, §§ 1, 2.)
GA Code § 33-14-16 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 14 - Domestic Stock and Mutual Insurers|Article 1 - General Provisions|§ 33-14-16. Participating and Nonparticipating Policies; Earned Dividend Not to Be Made Contingent Upon Payment of Renewal Premium

  If so provided in its charter, a domestic stock or domestic mutual insurer may issue any or all of its policies with or without participation in profits, savings, or unabsorbed portions of premiums, may classify policies issued on a participating or nonparticipating basis, and may determine the right to participate and the extent of participation of any class or classes of policies. Any classification or determination shall be reasonable and shall not unfairly discriminate as between policyholders within the same classification.   No dividend, otherwise earned, shall be made contingent upon the payment of a renewal premium on any policy.    (Code 1933, § 56-1521, enacted by Ga. L. 1960, p. 289, § 1.)   OPINIONS OF THE ATTORNEY GENERAL   Existing company must amend charter to issue participating shares.   - A Georgia stock insurance company chartered after 1950, but before the adoption of this title by Ga. L. 1960, p. 289, must amend its charter in order to issue participating policies if no reference is made to such policies in the charter. 1965-66 Op. Att'y Gen. No. 66-51.   RESEARCH REFERENCES   ALR.    - Apportionment of divisible surplus of insurance company between different policies, 108 A.L.R. 1212.
GA Code § 33-14-17 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 14 - Domestic Stock and Mutual Insurers|Article 1 - General Provisions|§ 33-14-17. Voting Securities

  As used in this Code section, the term "voting security" means any instrument which in law or by contract gives the holder the right to vote, consent, or authorize any corporate action of an insurer.   The Commissioner may by regulation prescribe the form, content, and manner of solicitation of any proxy, consent, or authorization in respect to any voting security issued by a domestic insurer as necessary or appropriate for the public interest or for the proper protection of investors in the voting securities issued by the insurer or necessary to ensure the fair dealing in the voting securities.   No person and no domestic insurer or any director, officer, or employee of an insurer shall solicit or permit the use of his name to solicit by mail or otherwise any person to give or to refrain from giving any proxy, consent, or authorization in respect to any voting security issued by the insurer in contravention of any rule or regulation the Commissioner may prescribe pursuant to this Code section.   Failure to comply with any rule or regulation of the Commissioner made pursuant to this Code section shall be unlawful and compliance may be enforced by appropriate action in law or equity. If a domestic insurer or any person who is legally entitled to vote, consent, or authorize by virtue of being the holder of record of such voting security shall fail to commence such action within 15 days after the date on which the vote was cast or counted, the Commissioner may enforce compliance with the rules and regulations made pursuant to this Code section by appropriate action in law or equity; provided, however, no action shall be brought more than 30 days after the date on which the vote, consent, or authorization was to have been effected.   This Code section shall not apply to voting securities of a domestic insurer if the voting securities shall be registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended.    (Code 1933, § 56-1519.1, enacted by Ga. L. 1965, p. 378, § 2; Ga. L. 1982, p. 3, § 33; Ga. L. 2000, p. 136, § 33.)
GA Code § 33-14-19 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 14 - Domestic Stock and Mutual Insurers|Article 1 - General Provisions|§ 33-14-19. Regulation of Financial Interests in and Transactions With Insurers by Officers, Directors, Committee Members, or Employees

  Any officer, director, member of any committee, or an employee of a domestic insurer who is charged with the duty of investing or handling the insurer's funds shall not:   Deposit or invest the funds except in the insurer's corporate name, except as otherwise authorized by this title;   Borrow the funds of the insurer;   Be pecuniarily interested in any loan, pledge of deposit, security, investment, sale, purchase, exchange, reinsurance, or other similar transaction or property of such insurer except as a stockholder or member unless:   The insurer has provided the Commissioner with written notice of the proposed transaction no later than 30 days prior to such transaction, or such lesser period as may be permitted by the Commissioner, and the Commissioner has not disapproved the proposed transaction within that period; provided, however, that the Commissioner may, upon written notice given to the insurer no less than five days prior to the expiration of the initial review period, extend the review period for an additional time not to exceed 30 days; and   The proposed transaction has been approved by directors' action in accordance with the provisions of Code Section 14-2-862, or by shareholders' action in accordance with the provisions of Code Section 14-2-863, if the proposed transaction would be a director's conflicting interest transaction as defined by Code Section 14-2-860; or     Take or receive to his or her own use any fee, brokerage, commission, gift, or other consideration for or on account of any such transaction made by or on behalf of the insurer.     No insurer shall guarantee any financial obligation of any of its officers or directors.   This Code section shall not prohibit a director, officer, member of a committee, or employee from becoming a policyholder of the insurer and enjoying the usual rights provided for its policyholders.   The Commissioner may by regulation define and permit additional exceptions to the prohibition contained in subsection (a) of this Code section solely to enable payment of reasonable compensation to a director who is not otherwise an officer or employee of the insurer or to a corporation or firm in which a director is interested for necessary services performed or sales or purchases made to or for the insurer in the ordinary course of the insurer's business and in the usual private professional or business capacity of the director or the corporation or firm.    (Code 1933, § 56-1533, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1980, p. 1108, § 8; Ga. L. 1995, p. 776, § 1.)   Law reviews.   - For note on the 1995 amendment of this Code section, see 12 Ga. St. U.L. Rev. 264 (1995).   RESEARCH REFERENCES   Am. Jur. 2d.   - 43 Am. Jur. 2d, Insurance, § 70.   C.J.S.   - 44 C.J.S., Insurance, §§ 170 et seq., 189 et seq.
GA Code § 33-14-20 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 14 - Domestic Stock and Mutual Insurers|Article 1 - General Provisions|§ 33-14-20. Limitation on Commission Received by Persons Selling Stock of Insurers; Participation by Corporate Officers in Commissions

  No officer, agent, or other person selling or negotiating stock in any domestic insurance company shall receive either directly or indirectly more than 10 percent of the sales price of any of said stock. No president, vice-president, secretary, treasurer, or director or any other executive officer of any insurance company shall participate in the commission received by any person selling or negotiating the sale of any stock of any insurance company either directly or indirectly.   No salaried officer of any insurance company shall participate in the commissions deriving from the sale of life insurance policies or agency contracts of the companies.    (Ga. L. 1912, p. 119, § 19; Code 1933, § 56-522; Code 1933, § 56-1542, enacted by Ga. L. 1960, p. 289, § 1.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 43 Am. Jur. 2d, Insurance, § 159.   C.J.S.   - 44 C.J.S., Insurance, § 3115.
GA Code § 33-14-21 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 14 - Domestic Stock and Mutual Insurers|Article 1 - General Provisions|§ 33-14-21. Limitation on Organizational Expenses

 The total expenses of organization of any insurer organized under this chapter including commissions for the sale of stock shall not exceed 12 1/2 percent of the amount for which the stock is sold in the case of a stock insurer and 12 1/2 percent of the paid-in surplus in the case of a mutual insurer.   (Code 1933, § 56-1542, enacted by Ga. L. 1960, p. 289, § 1.)   OPINIONS OF THE ATTORNEY GENERAL    The word "organization"  as used in this section includes the entire period from the inception of the company, the filing of application for charter, and the time required to raise the capital and surplus required by this title. 1960-61 Op. Att'y Gen. p. 271.   Limitation applies to all expenses from inception of company until certification.   - The limitation on expenses of 12 1/2 percent of the amount for which the stock was sold would apply to all expenses incurred from the inception of the company until a certificate of authority was obtained. 1960-61 Op. Att'y Gen. p. 271.
GA Code § 33-14-23 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 14 - Domestic Stock and Mutual Insurers|Article 1 - General Provisions|§ 33-14-23. Extinguishment of Charters of Corporations Not Actively Engaged in Business; Automatic Extinguishment of Charter Upon Merger or Consolidation

  The corporate charter of any other corporation formed under the laws of this state for the purpose of becoming an insurer, and which corporation, during any period of 36 consecutive months after January 1, 1961, is not actively engaged in business as a domestic insurer under a certificate of authority issued to it by the Commissioner under laws currently in force is automatically extinguished and nullified at the expiration of such 36 month period.   Upon certification by the Commissioner of such facts under subsection (a) of this Code section to the Secretary of State, the Secretary of State shall enter an order extinguishing and nullifying the corporate charter.   The period during which any corporation referred to in subsection (a) of this Code section is the subject of delinquency proceedings under Chapter 37 of this title shall not be counted as part of any 36 month period.   Upon merger or consolidation of a domestic insurer with another insurer under this chapter, the corporate charter of the merged or consolidated domestic insurer shall thereby automatically be extinguished and nullified.    (Code 1933, § 56-1540, enacted by Ga. L. 1960, p. 289, § 1.)
GA Code § 33-14-24 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 14 - Domestic Stock and Mutual Insurers|Article 1 - General Provisions|§ 33-14-24. Procedure for Voluntary Dissolution Generally; Effective Date of Dissolution; Conditions Precedent to Effectuation of Dissolution

  If, while a domestic stock or mutual insurer is fully solvent and it is deemed by its board of directors to be in the best interests of the insurer and its stockholders or members that the insurer be dissolved, the board of directors shall adopt a resolution to that effect and call a special meeting of its stockholders or members to consider and take action upon the proposal to dissolve the insurer corporation. The meeting shall be held upon not less than 30 days' written notice to the stockholders or members in advance of the meeting, which notice shall contain a statement of the dissolution proposal. The notice shall be given in the manner provided in the insurer's bylaws for a special meeting of stockholders or members.   If, at the special meeting or any adjournment thereof, the holders of record of stock entitled to exercise two-thirds of all the voting power on such proposal or if a mutual insurer, two-thirds of the insurer's members present or represented by proxy at the meeting shall by resolution consent that the dissolution shall take place, a copy of the resolution together with a list of the names and residences of the directors and officers certified by the president or a vice-president and the secretary or an assistant secretary or the treasurer or an assistant treasurer of the insurer shall be filed in triplicate with the application to surrender the charter required in Code Section 33-14-25 and one copy shall be filed for record in the office of the clerk of the superior court of the county in which the office or principal place of business of the insurer is located in this state.   Whenever all the stockholders of record of a domestic stock insurer having power to vote on a proposal to dissolve consent in writing to the dissolution, no meeting of the stockholders shall be necessary.   The effective date of the dissolution shall be the date of the issuance of the order by the Secretary of State dissolving the insurer under Code Section 33-14-25.   No dissolution shall be effected, however, until after the insurer has reinsured in another authorized insurer or has otherwise terminated all its insurance then in force; nor, in the case of a domestic mutual insurer, until after the proposed plan of dissolution together with the proposed plan for distribution of assets among the insurer's members has been filed with and approved by the Commissioner after having been found by him or her to be fair and equitable to the members of the domestic mutual insurer.    (Code 1933, § 56-1544, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 2000, p. 1307, § 4.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 43 Am. Jur. 2d, Insurance, § 86 et seq.   C.J.S.   - 44 C.J.S., Insurance, § 210 et seq.
GA Code § 33-14-25 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 14 - Domestic Stock and Mutual Insurers|Article 1 - General Provisions|§ 33-14-25. Procedure for Surrender of Charter

  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 in triplicate, signed with its corporate name and under its corporate seal, stating:   The name of the company and the location of its principal place of business in this state;   The date of its charter and all amendments thereto and the date or dates of renewal or renewals of its charter;   That it desires to surrender its charter and franchise to the state;   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   Any other information deemed necessary by the Commissioner of Insurance.     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.   The fee and publication requirements set out in subsections (a) through (c) of Code Section 33-14-5 shall be applicable to a surrender of charter under this Code section.   Upon receipt of the certificate of the judge of the probate court as to the publication of the application and 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 the judge of the probate court, the certificate of approval of the Commissioner, and the certificate dissolving the insurer.    (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 Code § 33-14-26 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 14 - Domestic Stock and Mutual Insurers|Article 1 - General Provisions|§ 33-14-26. Powers and Duties of Directors as Trustees Upon Expiration of Period of Corporate Existence; Filling of Vacancies and Replacement of Directors

 Upon the dissolution of a domestic stock or mutual insurer under Code Section 33-14-25, or upon the expiration of the period of its corporate existence in any other manner, except under Chapter 37 of this title, the directors of the corporation shall be trustees of the corporation with the full power to settle the affairs, collect the outstanding debts, sell and convey the property, real and personal, of the corporation, and divide its assets among its stockholders or members entitled to the assets, after paying or adequately providing for the payment of its liabilities and obligations. Vacancies in the number of directors may be filled by the remaining directors, but any director may be replaced on the vote of a majority of the stockholders, or members of the corporation, if a mutual insurer.   (Code 1933, § 56-1546, enacted by Ga. L. 1960, p. 289, § 1.)
GA Code § 33-14-27 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 14 - Domestic Stock and Mutual Insurers|Article 1 - General Provisions|§ 33-14-27. Continuance of Corporate Existence Subsequent to Dissolution or Expiration

 All domestic stock and mutual insurance corporations, whether they expire by their own limitation or are otherwise dissolved, shall nevertheless be continued for a term of three years from such expiration or dissolution, except in any dissolution under Chapter 37 of this title, as bodies corporate for the purpose of prosecuting and defending actions by or against them and of enabling them to settle and close their business, to dispose of and convey their property, and to divide their assets among those entitled to such assets, but not for the purpose of continuing business as insurers; provided, however, that as to any action or proceeding commenced by or against the corporation prior to such expiration or dissolution and with respect to any action or proceeding commenced by or against the corporation within three years after the date of the expiration or dissolution, the corporation shall for the purpose of the actions or proceedings only be continued as bodies corporate beyond the three-year period and until any judgments, orders, or decrees in the expiration or dissolution actions or proceedings are fully executed.   (Code 1933, § 56-1547, enacted by Ga. L. 1960, p. 289, § 1.)