In addition to assets impliedly excluded by Code Section 33-10-1, the following expressly shall not be allowed as assets in any determination of the financial condition of an insurer:
History. Code 1933, § 56-903, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1988, p. 1540, § 1; Ga. L. 2019, p. 337, § 1-56/SB 132; Ga. L. 2019, p. 869, § 2/HB 277.
The 2019 amendments. —
The first 2019 amendment, effective July 1, 2019, substituted “such insurer” for “him” near the beginning of paragraph (3) and near the end of paragraph (4). The second 2019 amendment, effective July 1, 2019, substituted the present provisions of paragraph (1) for the former provisions, which read: “Good will, trade names, and other similar intangible assets, except that good will may be allowed as an asset under such limitations as are imposed by rule of the Commissioner;”.
Structure Georgia Code
Chapter 10 - Assets and Liabilities
§ 33-10-1. Assets Considered in Determining Financial Condition of Insurers Generally
§ 33-10-3. Deduction of Assets From Liabilities and Liabilities From Assets Generally
§ 33-10-5. Capital Stock and Liabilities Charged Against Assets
§ 33-10-7. Marine Insurance, Required Reserves
§ 33-10-8. Accident and Sickness Insurance, Required Reserves
§ 33-10-10. Title Insurance, Required Reserves
§ 33-10-11. Requirement of Special Reserve for Certain Bonds
§ 33-10-12. Requirement by Commissioner of Increase in Loss Reserves
§ 33-10-13. Standard Valuation
§ 33-10-14. Valuation of Investments
§ 33-10-16. Valuation of Real and Personal Property Reserves