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O.C.G.A. § 33-13-12 — Receivership | Georgia Code
O.C.G.A. § 33-13-12 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 33 INSURANCE

Section 13. Insurance Holding Company Systems, 33-13-1 through 33-13-41.

ARTICLE 1 GENERAL PROVISIONS

33-13-12. Receivership.

Whenever it appears to the Commissioner that any person has committed a violation of this article which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, the Commissioner may proceed as provided in Chapter 37 of this title to take possession of the property of the domestic insurer and to conduct the business of the domestic insurer.

(Code 1933, § 56-3411, enacted by Ga. L. 1970, p. 257, § 1; Code 1981, §33-13-11; Code 1981, §33-13-12, as redesignated by Ga. L. 2013, p. 802, § 1/HB 312; Ga. L. 2015, p. 608, § 3/SB 108.)

The 2015 amendment, effective July 1, 2015, substituted "this article" for "this chapter" near the beginning of this Code section.

Editor's notes.

- Ga. L. 2013, p. 802, § 1/HB 312, effective July 1, 2013, redesignated former Code Section 33-13-11 as present Code Section 33-13-12 and redesignated former Code Section 33-13-12 as present Code Section 33-13-13.

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This Georgia Code resource is curated by an Orange Park personal injury and workers' comp lawyer, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. Attorney Syfert regularly works with Title 33 in the context of Georgia insurance coverage law and represents clients throughout Northeast Florida and South Georgia. For legal consultation, call 904-383-7448.