Section 5. Regulation of Unauthorized Insurers, 33-5-1 through 33-5-59.
ARTICLE 1
GENERAL PROVISIONS
33-5-2. Validity of contracts effectuated by unauthorized insurers; dissemination of advertising for or on behalf of unauthorized insurers.
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A contract of insurance effectuated by an unauthorized insurer in violation of this title shall be voidable except at the instance of the insurer unless during the life of such contract the insurer is authorized to transact the class or classes of insurance involved.
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No publication published in this state or radio or television broadcaster or any other agency or means for the dissemination of information operated or located in this state shall publish, broadcast, or otherwise disseminate within this state advertising for or on behalf of any insurer not then authorized to transact insurance in this state; provided, however, that this subsection shall not apply as to publications published in this state principally for circulation in other states, wherein advertising by or on behalf of such unauthorized insurers is not expressly directed toward residents or subjects of insurance in this state.
(Code 1933, § 56-602, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1982, p. 3, § 33.)
JUDICIAL DECISIONS
Cited in
Chatham County Hosp. Auth. v. John Hancock Mut. Life Ins. Co., 325 F. Supp. 614 (S.D. Ga. 1971); American Druggist Ins. Co. v. Georgia Power Co., 145 Ga. App. 104, 243 S.E.2d 319 (1978).
RESEARCH REFERENCES
C.J.S.
- 44 C.J.S., Insurance,
§
70.
ALR.
- Constitutionality of statutes relating to insurance contracts made and to be performed out of state, upon property life within state, 32 A.L.R. 636.
Full faith and credit provision as affecting insurance contracts, 41 A.L.R. 1386; 114 A.L.R. 250; 119 A.L.R. 483; 173 A.L.R. 1138.
