O.C.G.A. § 33-37-26.1 (2019)
Limitations on ability of receiver to void transfer of certain property in connection with federal home loan bank security agreement; transfer avoidance under certain circumstances
Sec.
Preferential transfers; liens; when transfer perfected; avoidance; transfer for new and contemporaneous consideration; payments to attorneys; personal liability of participants. Disallowing preferred creditor’s claims. Mutual debts and credits. Liquidator’s report to court; assessment against members of insurer; procedure when assessment not paid. Liability of reinsurers. Premiums due during pendency of liquidation action; penalties for violation; notice; right to appeal. Application for approval of proposal to disburse assets; notice. Proof of claims; late filing. Contents of proof of claim; effect of judgment or order within four months of, or after, filing petition for liquidation. Third-party contingent claim; claims due in future; claims under employment contracts. Third-party claim against insured. Procedure when claim denied. When third person subrogated to rights of creditor. Determining value of security held by secured creditor. Priority of distribution of claims. Authority of liquidator to compound, compromise, or negotiate claims; report to court. Payment of distributions.
Annotations
Cross references. - Dissolution of secretary of state corporations generally, § 14-4-160 et seq. Editor’s notes. - Ga. L. 1991, p. 1424, effective July 1, 1991, repealed the chap-
Sec.
Disposition of unclaimed funds subject to distribution. Liquidator’s application for discharge. Reopening liquidation proceedings. Retention or destruction of records. Receivership audits. Article 4
Liquidation Proceedings
Commissioner appointed as conservator of alien or foreign insurer’s property; grounds. Commissioner appointed as liquidator of foreign or alien insurer’s assets; grounds. Title to property of insurer domiciled in another state; rights of resident claimants. Commissioner as ancillary receiver for insurer not domiciled in this state. Commissioner’s cooperation with officials of domiciliary state of foreign or alien insurer. Rights of nonresident claimants in proceeding against domiciliary insurer. Rights of resident claimants in proceeding in another state against nondomiciliary insurer. Stay of proceedings during pendency of liquidation proceeding. Superiority of order of distribution issued by domiciliary state; priority of payment and claims; rights of secured creditors. Failure of ancillary receiver to transfer assets.
ter formerly codified at this chapter and enacted the current chapter. The former chapter consisted of Code Sections 33-37-1 through 33-37-50 and was based on Ga. L. 1960, p. 289, § 1; Ga. L. 1976, p. 1076,
§§ 1, 2; Ga. L. 1981, Ex. Sess. p. 8; Ga. L. 1982, p. 3, § 331; Ga. L. 1985, p. 1087, § 6; Ga. L. 1986, p. 10, § 33; and Ga. L. 1990, p. 8, § 33.
Law reviews. - For annual survey
article discussing developments in insurance law, see 51 Mercer L. Rev. 313 (1999). For note on 1991 revision of this chapter, see 8 Ga. St. U.L. Rev. 89 (1992).
JUDICIAL DECISIONS Cited in Preferred Ins. Co. v. Bentley, 223 Ga. 735, 157 S.E.2d 737 (1967); Pre-
ferred Ins. Co. v. Bentley, 225 Ga. 160, 166 S.E.2d 340 (1969).
ARTICLE 1 GENERAL PROVISIONS