reglab/statecodes huggingface dataset:
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-5 - Annual license fee

Farmers' mutual fire insurance companies shall pay no annual fees or charges other than an annual license fee as provided in Code Section
33-8-1
.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-6 - Board of directors generally

In companies organized under this chapter, the number of directors shall be not less than three. A majority of the board of directors shall be a quorum for the transaction of business. No person shall be or act as a director of the insurer who does not have insurance in force in the insurer.
Amended by 2019 Ga. Laws 139,§ 1-78, eff. 7/1/2019.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-7 - Power of board to borrow money and pledge assets of company

The board of directors of a farmers' mutual fire insurance company may, at any time, borrow such sum or sums of money as they may deem necessary to pay its losses, accrued or unaccrued, and may pledge the assets of the company including the contingent liability of policyholders for the losses as security for the loan.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-8 - Contents of bylaws generally; amendment of bylaws; provision for exclusion of members

(a)
The bylaws shall state the time and manner of the levy and payment of all premiums or assessments for all insurance written by the company.
(b)
The bylaws shall also fix the liability of the policyholders for all losses accrued while the policies are in force, in addition to the regular premium or assessment of the policyholders, and the time and manner of payment of such liability.
(c)
The bylaws may be amended and any such amendment shall be filed with the Commissioner at least 30 days prior to its adoption.
(d)
The bylaws may contain provisions for the exclusion of any member of the company who refuses or neglects to pay his or her assessment or for any other reasons satisfactory to the directors to be excluded from the insurer.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-9 - Inclusion of bylaws in insurance policy; inclusion in policy of statement of contingent liability of members

The portion of the bylaws which affects the insuring agreement shall be contained in the policy. Each policy issued by the insurer shall contain a statement of the contingent liability, if any, of its members.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-10 - Inclusion in policy of provision against waiver of bylaws

The companies may provide in the policy that officers and agents elected by them do not have the power to waive any provision of the bylaws.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-11 - Holding of annual and special meetings of members; notice of meetings

An annual meeting of such company shall be held at such a time as is fixed in the bylaws of the company. Special meetings may be held for such purposes and in such manner as may be specified in the insurer's bylaws, consistent with this chapter. All such meetings shall be held in the insurer's county of domicile or other location in this state that is convenient for its membership and specified in the insurer's bylaws. Notice of such meeting shall be mailed or otherwise given to each member not less than 20 days in advance of the meeting, and notice of any special meeting called by the board of directors shall be given in writing not less than ten days in advance stating the purpose of the meeting so called.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-12 - Voting by policyholders at meetings

Each policyholder in a farmers' mutual fire insurance company shall be entitled to only one vote in all policyholders' meetings. No voting by proxy shall be permitted unless it is specially authorized in the bylaws and approved by the Commissioner.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-13 - Amount of minimum surplus required

(a)
The amount of minimum surplus required for each farmers' mutual fire insurance company shall be determined on an individual basis; however, no farmers' mutual fire insurance company shall be issued a certificate of authority unless it shall possess and thereafter maintain a minimum of $150,000.00 in surplus.
(b)
Minimum surplus of up to $150,000.00 shall be maintained in any of the following:
(1)
Cash;
(2)
Certificates of deposit or similar certificates or evidence of deposits in banks or trust companies but only to the extent that the certificates or deposits are insured by the Federal Deposit Insurance Corporation; or
(3)
Savings accounts, certificates of deposit, or similar certificates or evidence of deposit in savings and loan associations and building and loan associations but only to the extent that the same are insured by the Federal Savings and Loan Insurance Corporation.
(c)
A portion of the minimum surplus, in an amount determined by the Commissioner, must be deposited with this state prior to the issuance of the certificate of authority. Chapter 12 of this title shall apply to the deposit required by this subsection.
(d)
Any additional surplus in excess of $150,000.00 required by the Commissioner pursuant to subsection (a) of this Code section may be provided and maintained in any of the following:
(1)
Any eligible investments of minimum capital or surplus authorized by Code Section
33-11-5
; or
(2)
Any other investments approved by the Commissioner that do not impair the financial solvency of the farmers' mutual fire insurance company.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-14 - Limitations on amounts of risks

(a)
The maximum amount of insurance that a farmers' mutual fire insurance company may retain on any subject or subjects of insurance reasonably exposed to loss from the same fire shall not exceed 10 percent of its surplus.
(b)
In determining the amount at risk and retained by the insurer, any valid and applicable reinsurance authorized shall be deducted from the gross amount of risk directly assumed by the insurer.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-15 - Reinsurance

A farmers' mutual fire insurance company shall not accept reinsurance of the risk of any other insurer.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-16 - Liability of members for losses and expenses of companies

No member of such insurer shall be liable to assessment to pay losses and expenses accruing prior to the time his policy became effective nor for losses and expenses accruing after termination or expiration of the policy.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-17 - Actions by or against companies

Companies organized under this chapter may bring and defend actions in the name under which they are doing business.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-18 - Filing of annual statement with Commissioner

Every farmers' mutual fire insurance company shall, on or before March 1 of each year, make and file with the Commissioner an annual statement of its business as of December 31 of the preceding year, on the form prescribed by the Commissioner.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-19 - Examination of companies by Commissioner; payment of costs of examinations

The Commissioner shall at least once in five years, or as often as he or she deems necessary, examine farmers' mutual fire insurance companies. The costs of the examination shall be paid by the company.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-20 - Exemption from taxes, costs, and fees

Any company organized under this chapter shall be exempt from all taxes, costs, and fees, including those listed in Chapter 8 of this title, except as expressly provided in this chapter and except taxes payable upon real and personal property owned by the company.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-21 - Applicability of other provisions of title to companies

In addition to this chapter, farmers' mutual fire insurance companies shall be subject to the following chapters of this title to the extent so applicable: Chapters 1, 2, 5, 6, 12, and 37, and Article 1 of Chapter 11.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 16 - FARMERS' MUTUAL FIRE INSURANCE COMPANIES (§§ 33-16-1 — 33-16-22) › Section 33-16-22 - Conversion of companies into mutual insurance companies

Any company organized under this chapter may be converted into a mutual insurance company by complying with the applicable provisions of Chapter 14 of this title.
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-1 - Definitions

As used in this chapter, the term:
(1)
"Attorney" means the attorney in fact of a reciprocal insurer. The attorney may be an individual, firm, or corporation.
(2)
"Reciprocal insurance" means insurance resulting from an interexchange among persons, known as subscribers, of reciprocal agreements of indemnity, the interexchange being effectuated through an attorney in fact common to all such persons; provided, however, that reciprocal agreements or contracts of indemnity executed prior to March 8, 1960, creating funds for the purpose of satisfying the obligations of self-insured employers under Chapter 9 of Title 34 shall not be deemed reciprocal insurance as defined in this Code section.
(3)
"Reciprocal insurer" means an unincorporated aggregation of subscribers operating individually and collectively through an attorney in fact to provide reciprocal insurance among themselves.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-2 - Applicability of chapter

(a)
All authorized reciprocal insurers shall be governed by those Code sections of this chapter not expressly made applicable to domestic reciprocal insurers.
(b)
Authorized reciprocal insurers shall comply with this chapter and shall make any amendments to their subscribers' agreement, power of attorney, policies, and other documents and accounts and perform any other acts as may be required for such compliance.
Amended by 2019 Ga. Laws 139,§ 1-79, eff. 7/1/2019.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-3 - Authorization of transaction of insurance by reciprocal insurers generally

A reciprocal insurer may be authorized to transact insurance in this state subject to the applicable provisions of this title.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-4 - Types of insurance in which reciprocal insurers authorized to transact business; reinsurance

(a)
A reciprocal insurer may, upon qualifying as a reciprocal insurer as provided for by this title, transact any kind or kinds of insurance defined by this title other than life or title insurance.
(b)
A reciprocal insurer may purchase reinsurance upon the risk of any subscriber and may grant reinsurance as to any kind of insurance it is authorized to transact directly.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-5 - Requirements as to name; actions by and against insurers

A reciprocal insurer shall:
(1)
Have and use a business name. The name shall include the word "reciprocal" or "interinsurer" or "interinsurance" or "exchange" or "underwriters" or "underwriting"; and
(2)
Bring and defend actions in its own name.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-6 - Procedure for incorporation of domestic reciprocal insurer generally; application for certificate of authority; execution and filing by attorney of declaration; contents of declaration

(a)
Twenty-five or more persons domiciled in this state may organize a domestic reciprocal insurer and make application to the Commissioner for a certificate of authority to transact insurance.
(b)
The proposed attorney shall fulfill the requirements of and shall execute and file with the Commissioner when applying for a certificate of authority a declaration setting forth:
(1)
The name of the insurer;
(2)
The location of the insurer's principal office, which shall be the same as that of the attorney and shall be maintained within this state;
(3)
The kinds of insurance proposed to be transacted;
(4)
The names and addresses of the original subscribers;
(5)
The designation and appointment of the proposed attorney and a copy of the power of attorney;
(6)
The names and addresses of the officers and directors of the attorney, if a corporation, or its members, if a firm;
(7)
The powers of the subscribers' advisory committee and the names and terms of office of the members of the committee;
(8)
That all moneys paid to the reciprocal shall, after deducting therefrom any sum payable to the attorney, be held in the name of the insurer and for the purposes specified in the subscribers' agreement;
(9)
A copy of the subscribers' agreement;
(10)
A statement that each of the original subscribers has in good faith applied for insurance of a kind proposed to be transacted, and that the insurer has received from each such subscriber the full premium or premium deposit required for which the subscriber has applied for a term of not less than six months at an adequate rate that has been filed with and approved by the Commissioner;
(11)
A statement of the financial condition of the insurer, a schedule of its assets, and a statement that the surplus as required by Code Section
33-17-16
is on hand; and
(12)
A copy of each policy, endorsement, and application form it then proposes to issue or use.
(c)
Such declaration shall be acknowledged by the attorney before an officer authorized to take acknowledgments.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-7 - Issuance of certificate of authority; refusal, suspension, or revocation of certificate of authority; renewal of certificate; payment of fees and taxes

(a)
The certificate of authority to transact business of a reciprocal insurer shall be issued to its attorney in the name of the insurer.
(b)
The Commissioner may refuse, suspend, or revoke the certificate of authority to transact business, in addition to other grounds for refusal, suspension, or revocation, for failure of the attorney to comply with any provision of this title.
(c)
The certificate shall be renewed annually and shall be issued and renewed upon payment of the fees required of insurers under this title.
(d)
Each holder of a certificate of authority to transact business of a reciprocal insurer shall pay all fees required by this title and shall pay all of the taxes required by law to be paid by companies doing a like business in this state.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-8 - Filing of bond by attorney for insurer; amount of bond; cancellation of bond

(a)
Concurrently with the filing of the declaration provided for in Code Section
33-17-6
, the attorney of a domestic reciprocal insurer shall file with the Commissioner a bond in favor of the Commissioner for the benefit of all persons damaged as a result of breach by the attorney of the conditions of his or her bond as set forth in subsection (b) of this Code section. The bond shall be executed by the attorney and by an authorized corporate surety and shall be subject to the Commissioner's approval.
(b)
The bond shall be in the penal sum of $25,000.00, aggregate in form, conditioned that the attorney will faithfully account for all moneys and other property of the insurer coming into his or her hands and that he or she will not withdraw or appropriate to his or her own use from the funds of the insurer any moneys or property to which he or she is not entitled under the power of attorney.
(c)
The bond shall provide that it is not subject to cancellation unless 30 days' advance notice in writing of cancellation is given to both the attorney and the Commissioner.
Amended by 2019 Ga. Laws 139,§ 1-80, eff. 7/1/2019.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-9 - Maintenance by attorney of deposit in lieu of bond

In lieu of the bond required under Code Section
33-17-8
, the attorney may maintain on deposit with the state through the office of the Commissioner a like amount in cash or in value of securities qualified for deposit under Chapter 11 of this title, subject to the same conditions as the bond.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-10 - Actions on attorney's bond or deposit

Action on the attorney's bond or to recover against a deposit made in lieu of the bond may be brought at any time by one or more subscribers suffering loss through a violation of its conditions or by the Commissioner as liquidator of the insurer. Amounts recovered on the bond shall be deposited in and become part of the insurer's funds. The total aggregate liability of the surety shall be limited to the amount of the penalty of the bond.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-11 - Rights and powers of attorney for insurer generally; contents and terms of power of attorney; furnishing of copy of power of attorney to subscribers

(a)
The rights and powers of the attorney of a reciprocal insurer shall be as provided in the power of attorney given to it by the subscribers.
(b)
The power of attorney must set forth:
(1)
The powers of the attorney;
(2)
That the attorney is authorized to accept service of process on behalf of the insurer in actions against the insurer upon contracts exchanged;
(3)
The general services to be performed by the attorney;
(4)
The maximum amounts to be deducted from advance premiums or deposits to be paid to the attorney and the general items of expense in addition to losses to be paid by the insurer; and
(5)
Except as to nonassessable policies, a provision for a contingent several liability of each subscriber in a specified amount, which amount shall be not less than one nor more than ten times the premium or premium deposit stated in the policy.
(c)
The power of attorney may:
(1)
Provide for the right of substitution of the attorney and revocation of the power of attorney and rights thereunder;
(2)
Impose any restrictions upon the exercise of the power as are agreed upon by the subscribers;
(3)
Provide for the exercise of any right reserved to the subscribers directly or through their advisory committee; and
(4)
Contain other lawful provisions deemed advisable.
(d)
The terms of any power of attorney or agreement collateral to such power shall be reasonable and equitable and shall be subject to review and approval by the Commissioner.
(e)
A copy of the power of attorney shall be furnished each subscriber.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-12 - Effect of discharge of duties by attorney of foreign or alien insurer; office of attorney

(a)
The attorney of a foreign or alien reciprocal insurer, which insurer is duly authorized to transact insurance in this state, shall not, by virtue of discharge of his or her duties as such attorney with respect to the insurer's transactions in this state, be thereby deemed to be doing business in this state within the meaning of any laws of this state applying to foreign firms or corporations.
(b)
The office of the attorney shall be maintained at such place as is designated by the subscribers in the power of attorney.
Amended by 2019 Ga. Laws 139,§ 1-81, eff. 7/1/2019.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-13 - Designation by insurer of person to acknowledge or accept service of process; manner of service of process; effect of judgment based upon process served in manner prescribed

(a)
Every reciprocal insurer authorized to transact business in this state shall file with the Commissioner a written statement or power of attorney duly signed and sealed appointing and authorizing some person, who shall be a resident of this state, to acknowledge or accept service of process for and in behalf of such reciprocal insurer, and upon whom all process may be served against said reciprocal insurer, in all proceedings that may be instituted against the reciprocal insurer in any of the courts of this state or of the United States, and consenting that service of process upon any agent or attorney appointed under this Code section shall be as valid as if served on the reciprocal insurer.
(b)
Legal process shall be served upon the reciprocal insurer by serving the insurer's attorney at his or her principal office in this state or by serving the Commissioner as the insurer's agent.
(c)
Any judgment based upon legal process served in the manner prescribed in subsection (b) of this Code section shall be binding upon each of the insurer's subscribers as their respective interests may appear but in an amount not exceeding their respective contingent liabilities, if any, as though personal service of process was had upon each subscriber.
Amended by 2019 Ga. Laws 139,§ 1-82, eff. 7/1/2019.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-14 - Subscribers' advisory committee

(a)
The advisory committee of a domestic reciprocal insurer exercising the subscribers' rights shall be selected under such rules as the subscribers adopt.
(b)
The committee shall:
(1)
Supervise the finances of the insurer;
(2)
Supervise the insurer's operations to such extent as to assure conformity with the subscribers' agreement and power of attorney;
(3)
Procure the audit of the accounts and records of the insurer and of the attorney at the expense of the insurer; and
(4)
Have any additional powers and functions as may be conferred by the subscribers' agreement.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-15 - Modifications of terms of subscribers' agreement or of power of attorney

Modifications of the terms of the subscribers' agreement or of the power of attorney of a domestic reciprocal insurer shall be made jointly by the attorney and the subscribers' advisory committee. No modification shall be effective until it has been filed with and approved by the Commissioner, and no modification shall be effective retroactively. Furthermore, no modification shall affect any insurance contract issued prior to the modification.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-16 - General requirements for transaction of insurance by domestic reciprocal insurers

(a)
A domestic reciprocal insurer formed under this chapter, if it has otherwise complied with the applicable provisions of this title, may be authorized to transact insurance if it has and thereafter maintains surplus funds as follows:
(1)
To transact property insurance, surplus funds of not less than $1.5 million; and
(2)
To transact casualty insurance, surplus funds of not less than $1.5 million.
(b)
In addition to surplus required to be maintained under subsection (a) of this Code section, the insurer shall have, when first authorized to transact insurance, expendable surplus in such amount as is required of a like foreign reciprocal insurer under Code Section
33-3-7
.
(c)
A domestic reciprocal insurer may be authorized to transact additional kinds of insurance if it has otherwise complied with the provisions of this title applicable to a domestic reciprocal insurer and possesses and so maintains surplus funds in an amount equal to the minimum paid-in capital stock required of a stock insurer for authority to transact a like combination of kinds of insurance.
(d)
There shall be maintained at all times assets in cash, premium balances, or securities authorized by the laws of this state for the investment of assets of insurance companies doing a similar business in an amount equivalent to the pro rata unearned premiums or deposits of subscribers and reserves for losses outstanding and unpaid or any other liabilities of the reciprocal insurer.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-17 - Advancement of sums to insurer by attorney or other parties; withdrawal or repayment of advances

The attorney or other parties may advance to a domestic reciprocal insurer upon reasonable terms any funds as it may require from time to time in its operations. Sums so advanced shall not be treated as a liability of the insurer and, except upon liquidation of the insurer, shall not be withdrawn or repaid except out of the insurer's realized earned surplus in excess of its minimum required surplus. No withdrawal or repayment shall be made without the advance approval of the Commissioner.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-18 - Persons and organizations authorized to become subscribers; exchange of insurance contracts; personal liability upon contracts

(a)
Individuals, partnerships, and corporations of this state may make application to, enter into agreement for, hold policies or contracts in or with, and be a subscriber of any domestic, foreign, or alien reciprocal insurer.
(b)
Any corporation organized under the laws of this state shall, in addition to the rights, powers, and franchises specified in its charter, have full power and authority as a subscriber to exchange insurance contracts through such reciprocal insurer. The right to exchange such contracts is declared to be incidental to the purposes for which the corporations are organized and to be as fully granted as the rights and powers expressly conferred upon the corporations. Government or governmental agencies, state or political subdivisions thereof, boards, associations, estates, trustees, or fiduciaries are authorized to exchange nonassessable reciprocal interinsurance contracts with each other and with individuals, partnerships, and corporations to the same extent that individuals, partnerships, and corporations are authorized under this Code section to exchange reciprocal interinsurance contracts.
(c)
Any officer, representative, trustee, receiver, or legal representative of any subscriber shall be recognized as acting for or on its behalf for the purpose of the contract but shall not be personally liable upon the contract by reason of acting in a representative capacity.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-19 - Liability of subscribers for obligations of insurer generally; contingent liability assessment

(a)
The liability of each subscriber, other than as to a nonassessable policy, for the obligations of the reciprocal insurer shall be an individual, several, and proportionate liability, and not joint.
(b)
Except as to a nonassessable policy, each subscriber shall have a contingent assessment liability, in the amount provided for in the power of attorney or in the subscribers' agreement, for payment of actual losses and expenses incurred while his policy was in force. The contingent liability may be at the rate of not less than one nor more than ten times the premium or premium deposit stated in the policy, and the maximum aggregate of contingent liability shall be computed in the manner set forth in Code Section
33-17-24
.
(c)
Each assessable policy issued by the insurer shall contain a statement of the contingent liability.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-20 - Enforcement against subscriber of judgment against insurer

(a)
No action shall lie against any subscriber upon any obligation claimed against the insurer until a final judgment has been obtained against the insurer and remains unsatisfied for 30 days.
(b)
Any judgment shall be binding upon each subscriber only in such proportion as his interests may appear and in amount not exceeding his contingent liability, if any.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-21 - Standards for determination by Commissioner of financial condition of insurer

In determining the financial condition of a reciprocal insurer, the Commissioner shall apply the following rules:
(1)
He shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis;
(2)
The surplus deposits of subscribers shall be allowed as assets, except that any premium deposits delinquent for 90 days shall first be charged against such surplus deposit;
(3)
The surplus deposits of subscribers shall not be charged as a liability;
(4)
All premium deposits delinquent less than 90 days shall be allowed as assets;
(5)
An assessment levied upon subscribers and not collected shall not be allowed as an asset;
(6)
The contingent liability of subscribers shall not be allowed as an asset; and
(7)
The computation of reserves shall be based upon premium deposits other than membership fees without any deduction for expenses and the compensation of the attorney.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-22 - Manner of levy of assessments against subscribers generally; computation of assessments

(a)
Assessments may from time to time be levied upon subscribers of a domestic reciprocal insurer liable therefor under the terms of their policies by the attorney upon approval in advance by the subscribers' advisory committee and the Commissioner or by the Commissioner in liquidation of the insurer.
(b)
Each subscriber's share of a deficiency for which an assessment is made, but not exceeding in any event his aggregate contingent liability as computed in accordance with Code Section
33-17-24
, shall be computed by applying to the premium earned on the subscriber's policy or policies during the period to be covered by the assessment the ratio of the total deficiency to the total premiums earned during the period upon all policies subject to the assessment.
(c)
In computing the earned premiums for the purposes of this Code section, the gross premium received by the insurer for the policy shall be used as a base deducting therefrom solely charges not recurring upon the renewal or extension of the policy.
(d)
No subscriber shall have an offset against any assessment for which he is liable on account of any claim for unearned premium or losses payable.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-23 - Limitation period for assessments

Every subscriber of a domestic reciprocal insurer having contingent liability shall be liable for and shall pay his share of any assessment, as computed and limited in accordance with this chapter, if:
(1)
While his or her policy is in force or within one year after its termination, he or she is notified by either the attorney or the Commissioner of his or her intentions to levy the assessment; or
(2)
If an order to show cause why the receiver, conservator, rehabilitator, or liquidator of the insurer should not be appointed is issued while his or her policy is in force or within one year after its termination.
Amended by 2019 Ga. Laws 139,§ 1-83, eff. 7/1/2019.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-24 - Maximum assessable aggregate contingent liability

No one policy or subscriber as to the policy shall be assessed or charged with an aggregate of contingent liability as to obligations incurred by a domestic reciprocal insurer in any one calendar year in excess of the amount provided for in the power of attorney or in the subscriber's agreement computed solely upon premium earned on the policy during that year.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-25 - Insufficient assets to discharge liabilities and to maintain required surplus

(a)
If the assets of a domestic reciprocal insurer are at any time insufficient to discharge its liabilities, other than any liability on account of funds contributed by the attorney or others, and to maintain the required surplus, its attorney shall immediately make up the deficiency or levy an assessment upon the subscribers for the amount needed to make up the deficiency, subject to the limitations set forth in the power of attorney or policy.
(b)
If the attorney fails to make up the deficiency or to make the assessment within 30 days after the Commissioner orders him or her to do so or if the deficiency is not fully made up within 60 days after the date the assessment was made, the insurer shall be deemed insolvent and shall be proceeded against as authorized by this title.
(c)
If liquidation of an insurer is ordered, an assessment shall be levied upon the subscribers for an amount, subject to limits as provided by this chapter, as the Commissioner determines to be necessary to discharge all liabilities of the insurer, exclusive of any funds contributed by the attorney or other persons but including the reasonable costs of the liquidation.
Amended by 2019 Ga. Laws 139,§ 1-84, eff. 7/1/2019.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-26 - Authorization and procedure for issuance by Commissioner of certificate authorizing insurer to extinguish contingent liability of subscribers; revocation of certificate

(a)
If a reciprocal insurer has a surplus of assets over all liabilities at least equal to the minimum paid-in capital stock required of a domestic stock insurer authorized to transact like kinds of insurance, upon application of the attorney and as approved by the subscribers' advisory committee, the Commissioner shall issue a certificate authorizing the insurer to extinguish the contingent liability of subscribers under its policies then in force in this state and to omit provisions imposing contingent liability in all policies delivered or issued for delivery in this state for so long as all the surplus remains unimpaired.
(b)
Upon impairment of the surplus, the Commissioner shall immediately revoke the certificate. The revocation shall not render subject to contingent liability any policy then in force and for the remainder of the period for which the premium has theretofore been paid but, after revocation, no policy shall be issued or renewed without providing for contingent assessment liability of the subscriber.
(c)
The Commissioner shall not authorize a domestic reciprocal insurer so to extinguish the contingent liability of any of its subscribers or in any of its policies to be issued, unless it qualifies to and does extinguish the liability of all its subscribers and in all the policies for all kinds of insurance transacted by it. If required by the laws of another state in which the insurer is transacting insurance as an authorized insurer, the insurer may issue policies providing for the contingent liability of such of its subscribers as may acquire the policies in the state and need not extinguish the contingent liability applicable to policies theretofore in force in the state.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-27 - Distribution of unused premiums, savings, credits, or profits to subscribers

A reciprocal insurer may from time to time return to its subscribers any unused premiums, savings, credits, or profits accruing to their accounts. Any such distribution shall not unfairly discriminate between classes of risks or policies or between subscribers, but the distribution may vary as to classes of subscribers based upon the experience of the subscribers. In no event shall there be any distribution whatsoever by a domestic reciprocal insurer while notes or advances to the minimum surplus required by Code Section
33-17-17
are outstanding, unless the Commissioner shall first approve the distribution.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-28 - Distribution of assets to subscribers upon liquidation of insurer

Upon the liquidation of a domestic reciprocal insurer, its assets remaining after discharges of its indebtedness and policy obligations, the return of any contributions of the attorney or other persons to its surplus made as provided in Code Section
33-17-17
, and the return of any unused premiums, savings, or credit then standing on subscribers' accounts shall be distributed to its subscribers who were such within the 12 months prior to the last termination of its certificate of authority, according to such reasonable formula as the Commissioner may approve.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-29 - Filing of annual statement with Commissioner

(a)
The annual financial statement of a reciprocal insurer shall be made and filed with the Commissioner by its attorney on or before March 1 of each year.
(b)
The information required by this title of other insurers doing a like insurance business in this state shall be included in the annual financial statement.
(c)
The statement shall be supplemented by such information as may be required by the Commissioner relative to the affairs and transactions of the attorney, insofar as they relate to the reciprocal insurer.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-30 - Merger of reciprocal insurers; conversion of reciprocal insurers to stock or mutual insurers

(a)
A domestic reciprocal insurer, upon affirmative vote of not less than two-thirds of its subscribers who vote on the merger pursuant to due notice and the approval of the Commissioner of the terms for such merger, may merge with another reciprocal insurer or be converted to a stock or mutual insurer.
(b)
Such a stock or mutual insurer shall be subject to the same capital or surplus requirements and shall have the same rights as a like domestic insurer transacting like kinds of insurance.
(c)
The Commissioner shall not approve any plan for merger or conversion which is inequitable to subscribers or which, if for conversion to a stock insurer, does not give each subscriber preferential right to acquire stock of the proposed insurer proportionate to his interest in the reciprocal insurer as determined in accordance with Code Section
33-17-28
and a reasonable length of time within which to exercise such right.
(d)
Reinsurance of all or substantially all of the insurance in force of a domestic reciprocal insurer in another insurer shall be deemed to be a merger for the purposes of this Code section.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 17 - RECIPROCAL INSURERS (§§ 33-17-1 — 33-17-31) › Section 33-17-31 - Exchange of contracts or indemnities by attorneys

Any attorney who shall exchange any contract or indemnity of the kind and character specified in this chapter or who shall directly or indirectly solicit or negotiate any application for the contracts without first complying with all the provisions of this chapter shall be guilty of a misdemeanor, but the Commissioner may in his discretion and upon such terms and conditions as he may prescribe issue a permit for organizational purposes to continue in force and effect until canceled at the pleasure of the Commissioner.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 18 - [Repealed] (§ 33-18-1) › Section 33-18-1 - through 33-18-33 - [Reserved]

Reserved. Repealed by Ga. L. 2017, p. 164, § 1/HB 127, effective July 1, 2017.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 20 - HEALTH CARE PLANS (§§ 33-20-1 — 33-20-34) › Section 33-20-2 - Purpose and construction of chapter

It is the purpose and intent of this chapter and the policy of this state to promote and finance quality health care services of demonstrated need, efficiently provided and properly utilized at a reasonable cost, in order to maintain the standing and promote the progress of comprehensive health care services in this state. This chapter shall be construed liberally to promote its humanitarian purposes.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 20 - HEALTH CARE PLANS (§§ 33-20-1 — 33-20-34) › Section 33-20-4 - Authorization of formation of health care corporations generally

Health care corporations may be incorporated for the purpose of establishing, maintaining, and operating one or more health care plans, providing administrative or other services to employers or others that offer plans furnishing or reimbursing for health care services, including without limitation establishing, administrating, promoting, and developing programs requested, desired, or sponsored by employers or other groups, and for the other purposes authorized by this chapter.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 20 - HEALTH CARE PLANS (§§ 33-20-1 — 33-20-34) › Section 33-20-5 - Procedure for formation of health care corporations; regulation and supervision of corporations by Commissioner generally

(a)
Any five or more persons, all of whom shall be residents of this state, upon filing a petition with the Secretary of State for a corporate charter as provided in Chapter 3 of Title 14, the "Georgia Nonprofit Corporation Code," or, if the resulting health care corporation is to be a surviving corporation, Chapter 2 of Title 14, the "Georgia Business Corporation Code," which petition shall also contain the information required by Chapter 14 of this title, may form a health care corporation under and in conformity with this chapter for the purpose of establishing, maintaining, and operating one or more health care plans, whereby health care services are or may be provided at the expense of the corporation. Other benefits including complete employee welfare and employee benefit programs may be added from time to time as the corporation may determine with the approval of the Commissioner.
(b)
A health care corporation shall be subject to regulation and supervision by the Commissioner in the same manner as life insurers are subject to such regulation and supervision and shall be governed by the corporation laws of this state.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 20 - HEALTH CARE PLANS (§§ 33-20-1 — 33-20-34) › Section 33-20-6 - [Repealed] Board of directors; merger or consolidation of medical service corporations and hospital service corporations; powers of health care corporations generally

Repealed by 2017 Ga. Laws 52,§ 9, eff. 7/1/2017.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 20 - HEALTH CARE PLANS (§§ 33-20-1 — 33-20-34) › Section 33-20-7 - Bond of treasurer; deposit of funds collected from subscribers

The treasurer of a health care corporation shall be required to give a fidelity bond with corporate surety in such sum as may be determined by the directors of the corporation and all funds collected from the subscribers of the corporation shall be deposited to the account of the corporation in a bank which is a state depository.
2023 CODE OF GEORGIA › Title 33 - INSURANCE (§§ 33-1-1 — 33-66-8) › Chapter 20 - HEALTH CARE PLANS (§§ 33-20-1 — 33-20-34) › Section 33-20-8 - Requirements for certificate of authority; application

(a)
Except for corporations subject to this chapter which are surviving corporations, a health care corporation may issue contracts only after the Commissioner has authorized it to do so.
(b)
Every application for a certificate of authority shall be accompanied by copies of the following documents and information:
(1)
A certified copy of its charter or certificate of incorporation;
(2)
A copy of its bylaws certified by the lawful custodian of the original;
(3)
Proposed contracts between the corporation and participating physicians, participating facilities, or other providers of health care services showing the terms under which health care service is to be furnished to subscribers, beneficiaries, and covered dependents;
(4)
A statement of the county or counties in which it proposes to operate health care plans;
(5)
A statement of its financial condition and business in such form and detail as the Commissioner may require including the amounts of contributions paid for working capital, the name or names of each contributor, and the terms of such contributions signed and sworn to by its president and secretary or other proper officers. Contributions not paid, but agreed to be paid, may be reported as a separate item but shall not be admitted assets of the corporation; and
(6)
Such other documents and information as the Commissioner may reasonably require to be filed.