TITLE 33 INSURANCE

Section 38. Georgia Life and Health Insurance Guaranty Association, 33-38-1 through 33-38-22.

ARTICLE 4 LIQUIDATION PROCEEDINGS

33-38-9. Delegation of powers and duties of the association.

The plan of operation described in Code Section 33-38-8 may provide that any or all powers and duties of the association, except those under subparagraph (C) of paragraph (14) of Code Section 33-38-7 and Code Section 33-38-15, shall be delegated to a corporation, association, or other organization which performs or will perform functions similar to those of this association or its equivalent in two or more states. Such a corporation, association, or organization shall be reimbursed for any payments made on behalf of the association and shall be paid for its performance of any function of the association. A delegation under this Code section shall take effect only with the approval of both the board of directors and the Commissioner and may be made only to a corporation, association, or organization which extends protection not substantially less favorable and effective than that provided for by this chapter.

(Code 1933, § 56-2208, enacted by Ga. L. 1981, p. 1336, § 1; Ga. L. 1990, p. 8, § 33; Ga. L. 2012, p. 701, § 1/HB 786.)

The 2012 amendment, effective July 1, 2012, substituted "paragraph (14)" for "paragraph (10)" in the first sentence of this Code section.