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2018 Georgia Code 33-14-2 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 33-14-2 Case Law from Google Scholar Amendments to OCGA 33-14-2

TITLE 33 INSURANCE

Section 14. Domestic Stock and Mutual Insurers, 33-14-1 through 33-14-109.

ARTICLE 1 GENERAL PROVISIONS

33-14-2. Definitions.

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.

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

JUDICIAL DECISIONS

"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, §§ 153, 171.

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