O.C.G.A.
O.C.G.A.

O.C.G.A. § 33-11-85 (2019)

Limitations to insurer’s investment

✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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The limitations of paragraphs (1) and (2) of Code Section 33-11-5 shall not apply to an insurer’s investment in an investment pool; provided, however, that an insurer shall not acquire an investment in an investment pool under this article if, as a result of and after giving effect to the investment, the aggregate amount of investments then held by the insurer under this article:

(1) In any one investment pool would exceed 10 percent of its admitted assets;

(2) In all investment pools investing in investments permitted under paragraph (2) of subsection (a) of Code Section 33-11-83 would exceed 25 percent of its admitted assets; or

(3) In all investment pools would exceed 35 percent of its admitted assets.

History

Code 1981, § 33-11A-6, enacted by Ga. L. 1997, p. 1042, § 1; Code 1981, § 33-11-85, as redesignated by Ga. L. 1999, p. 592, §§ 13, 15.

Annotations

Code Commission notes. - Pursuant to Code Section 28-9-5, in 1999, ‘‘Code Section 33-11-83’’ was substituted for ‘‘Code Section 33-11A-4’’ in paragraph (2).