TITLE 33 INSURANCE

Section 41. Captive Insurance Companies, 33-41-1 through 33-41-24.

ARTICLE 4 LIQUIDATION PROCEEDINGS

33-41-18. Investments.

Except as provided in Code Section 33-41-8:

1. Risk retention group captive insurance companies, industrial insured captive insurance companies, and association captive insurance companies shall comply with the investment requirements contained in Article 2 of Chapter 11 of this title; and
2. Pure captive insurance companies and agency captive insurance companies shall not be subject to any restrictions on eligible investments whatever, including those limitations contained in Chapter 11 of this title; provided, however, that the Commissioner may prohibit or limit any investment that threatens the solvency or liquidity of any such captive insurance company.

(Code 1981, §33-41-18, enacted by Ga. L. 1988, p. 966, § 2; Ga. L. 2016, p. 825, § 1/SB 347.)

The 2016 amendment, effective July 1, 2016, substituted the present provisions of paragraph (1) for the former provisions, which read: "An association captive insurance company shall comply with the investment requirements contained in Chapter 11 of this title; and"; and substituted "Pure captive insurance companies and agency captive insurance companies shall not" for "No pure captive insurance company or industrial insured captive insurance company shall" in paragraph (2).