TITLE 33 INSURANCE

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

ARTICLE 4 LIQUIDATION PROCEEDINGS

33-41-6. Name.

1. A captive insurance company shall not use any name which is either similar, misleading, or confusing with respect to any other name already in use by any other captive insurance company, domestic mutual or stock insurance company, corporation, or association organized or doing business in this state. The Commissioner shall not approve the formation documents of an applicant attempting to use such a name nor shall the Commissioner approve an application for a certificate of authority from such applicant.
2. The name of a risk retention group captive insurance company shall include the words "risk retention group captive insurance company."
3. If the captive insurance company is a mutual insurer, the word "mutual" shall be a part of its name.

(Code 1981, §33-41-6, enacted by Ga. L. 1988, p. 966, § 2; Ga. L. 2016, p. 825, § 1/SB 347; Ga. L. 2017, p. 682, § 5/SB 173.)

The 2016 amendment, effective July 1, 2016, substituted "The Commissioner shall not approve the articles of incorporation of" for "The Secretary of State shall not issue a charter to" in the second sentence of subsection (a); and substituted "company.'" for "company' and have such word or words, abbreviation, suffix, or prefix included in the name or attached to it in such a manner as to clearly indicate that it is a corporation" at the end of paragraphs (b)(1) and (b)(2).

The 2017 amendment, effective July 1, 2017, substituted "formation documents" for "articles of incorporation" near the middle of the second sentence of subsection (a); deleted former paragraph (b)(1), which read: "With the exception of risk retention group captive insurance companies, the name of a captive insurance company shall include the words 'captive insurance company.'"; redesignated former paragraph (b)(2) as present subsection (b); and, in subsection (c), deleted "also" following "shall" and substituted "its name" for "the name" near the end.