O.C.G.A.

O.C.G.A. § 33-14-45 (2019)

Classes of common or preferred shares

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

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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A domestic stock insurer may have one or more classes of common or preferred shares, all of which shall be shares with par value in accordance with paragraph (5) of subsection (b) of Code Section 33-14-4 and any or all of which may, subject to any restrictions of this title, consist of shares with full, limited, multiple, fractional, or no voting rights and such designations, preferences, qualifications, privileges, limitations, redemption provisions (in the case of preferred shares), options, conversion rights, and other special rights as shall be stated in this article. Except as otherwise stated in this article, this title, or other applicable laws, each share shall be equal in all respects to every other share.

History

Code 1981, § 33-14-45, enacted by Ga. L. 1994, p. 694, § 2.

Annotations

Law reviews. - For note on the 1994

enactment of this Code section, see 11 Ga. St. U.L. Rev. 196 (1994).

ARTICLE 3 DOMESTIC MUTUAL INSURERS RESEARCH REFERENCES ALR. - Right of mutual benefit association to raise rates, 80 A.L.R. 659.