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

O.C.G.A. § 33-14-2 (2019)

Definitions

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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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As used in this chapter, the term:

(1) ‘‘Mutual insurer’’ means an incorporated insurer without capital stock or shares which is owned and governed by its policyholders.

(2) ‘‘Stock insurer’’ means an incorporated insurer with capital divided into shares and owned by its shareholders.

History

Code 1933, § 56-1502, enacted by Ga. L. 1960, p. 289, § 1.

Annotations

JUDICIAL DECISIONS Editor’s notes. - In light of the similarity of the statutory provisions, annotations decided under former Civil Code 1910, § 2529 and former Code 1933, § 56-1401 are included in the annotations for this Code section. ‘‘Mutual insurer.’’ - Where, under the provisions of an industrial life and health insurance company’s policy, each person insured becomes one of the insurers, thereby becoming interested in the profits and liable for the losses, the company is a

‘‘mutual benefit association.’’ Stevens v. Industrial Life & Health Ins. Co., 50 Ga. App. 381, 178 S.E. 311 (1935) (decided under former Civil Code 1910, § 2529). ‘‘Mutual insurance’’ is that form of insurance whereby each of the insured becomes one of the insurers, thereby becoming interested in the profits and liable for the losses. Gaston v. Keehn, 69 Ga. App. 500, 26 S.E.2d 107 (1943) (decided under former Code 1933, § 56-1401).

RESEARCH REFERENCES Am. Jur. 2d. - 43 Am. Jur. 2d, Insurance, §§ 58, 66.

C.J.S. - 44 C.J.S., Insurance, §§ 162 et seq., 181 et seq.

Notes of Decisions
Cited in 2 cases, 1993–1993 · leading case: Franklin v. Tackett, 433 S.E.2d 710 (Ga. Ct. App. 1993).
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Franklin v. Tackett, 433 S.E.2d 710 (Ga. Ct. App. 1993). · cites it 4× “Stockholders and policyholders of mutual companies (but not policyholders of stock companies, see Weatherbee, supra at 765 ; OCGA § 33-14-2), can be ascertained by juror questionnaires which ask for stock ownership by the juror or spouse, or by the simple expedient of asking…”
Boynton v. State Farm Mut. Auto. Ins. Co., 429 S.E.2d 304 (Ga. Ct. App. 1993). · cites it 2× “, OCGA § 33-14-2 (1) (“mutual insurer” is any incorporated insurer without shareholders which is owned and governed instead by its policyholders).”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.