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

O.C.G.A. § 33-37-16 (2019)

Grounds for order of liquidation

✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
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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The Commissioner may petition the superior court for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in this state on the basis: (1) Of any ground for an order of rehabilitation as specified in Code Section 33-37-11, whether or not there has been a prior order directing the rehabilitation of the insurer;

(2) That the insurer is insolvent; or

(3) That the insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors, or the public.

History

Code 1981, § 33-37-16, enacted by Ga. L. 1991, p. 1424, § 7.

Annotations

RESEARCH REFERENCES Am. Jur. 2d. - 43 Am. Jur. 2d, Insurance, § 83 et seq.

C.J.S. - 44 C.J.S., Insurance, § 245 et seq.

Notes of Decisions
Cited in 3 cases, 1985–1992 · leading case: Garamendi v. Ryles, 420 S.E.2d 633 (Ga. Ct. App. 1992).
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Garamendi v. Ryles, 420 S.E.2d 633 (Ga. Ct. App. 1992). · cites it 2× “Appellant also raises on appeal an issue concerning his right to make claims on behalf of certain Georgia creditors of the Mission Companies with regard to the fund deposited by the Mission Companies with appellee pursuant to OCGA § 33-3-9.”
Georgia Insurers Insolvency Pool v. Moore, 333 S.E.2d 383 (Ga. Ct. App. 1985). · cites it 2× “” OCGA § 33-37-16 (b). This section must be considered in pari materia with OCGA § 33-37-22 (a) which provides that “[n]o contingent and unliquidated claim shall share in a distribution of the assets .”
Georgia Insurers Insolvency Pool v. Moore, 357 S.E.2d 823 (Ga. Ct. App. 1987). · cites it 4× “See also OCGA § 33-37-16 (b). The court further directed the Ancillary Receiver to publish in a newspaper of general circulation a notice describing the manner and deadline for filing of all claims.”
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.