Compilation of Rules and Regulations of the State of Georgia › Department 120 - OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER › Chapter 120-2 - RULES OF COMMISSIONER OF INSURANCE › Subject 120-2-9 - INSIDER TRADING OF DOMESTIC STOCK INSURER EQUITY SECURITIES › Rule 120-2-9-.01 - Forms for Reporting Ownership of Domestic Stock Insurers Equity Securities; Penalty

Current through Rules and Regulations filed through June 27, 2024
(1) Initial Filing. Every person who is
				directly or indirectly the beneficial owner of more than ten percent of any
				class of any equity security of a domestic stock insurer, or who is a director
				or an officer of such insurer, shall file in the office of the Commissioner
				within 30 days of the effective date of Chapter 56-16 a statement on form
				GID-18. Such form GID-18 shall require the disclosure of the name of the
				company in which equity securities are held; name of person whose ownership is
				reported; business address of such person; relationship of such person to the
				company in which equity securities are held; date of the event which requires
				the filing of the statement, and the title of security, nature of ownership,
				and amount owned as to all equity securities of such company. The person filing
				such form GID-18 shall subscribe to an oath as to the truthfulness of such
				statement to the best of his knowledge and belief and shall have his
				subscription to such oath witnessed by anyone authorized by law to administer
				oaths.
(2) Regular Filing. Every
				person, required under
				120-2-9-.01(1)
				hereof to file a statement with the Commissioner, shall file a monthly
				statement on form GID-19, within ten days after the close of each calendar
				month if there has been a change in such person's ownership during such month.
				Such statement shall indicate the ownership at the close of the calendar month
				and such changes in ownership as have occurred during such calendar month; the
				name of the company in which equity securities are held; name of person whose
				ownership is reported, business address of such person; relationship of such
				person to the company; the month and year for which the statement is submitted,
				title of security; date of transaction; amount bought or otherwise acquired;
				amount sold or otherwise disposed of; nature of ownership; and amount owned
				beneficially at the end of the month. The person filing such form GID-19 shall
				subscribe to an oath as to the truthfulness of such statement to the best of
				his knowledge and belief and shall have his subscription to such oath witnessed
				by anyone authorized by law to administer oaths.
(3) The failure to file, by persons required
				under the provisions of Section 56-1601 of the Code of Georgia to file a
				statement, shall be adequate grounds for the denial of a company's application
				for renewal of its Certificate Authority under authority of Section 56-319 of
				the Code of Georgia.
(Forms GID-18 and GID-19 are attached hereto as "Exhibit A"
				  and "Exhibit B" respectively, and incorporated herein.)
"Exhibit A" INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF
				  EQUITY SECURITIES
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				  here to view
Click
				  here to view
"Exhibit B" STATEMENT OF CHANGES IN BENEFICIAL
				  OWNERSHIP OF EQUITY SECURITIES
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				  here to view
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				  here to view
Ga. Laws, 1960. p. 289
				  at p. 306; Ga. Laws, 1963. p. 373 at p. 330, as
				  amended.