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.