Georgia Code
Article 1 - General Provisions
§ 33-13-5. Standards Governing Transactions by Registered Insurers With Affiliates Generally; Extraordinary Distributions; Adequacy of Surplus

Nothing contained in this paragraph shall be deemed to authorize or permit any transactions which, in the case of an insurer that is not a member of the same holding company system, would be otherwise contrary to law.
History. Code 1933, § 56-3405, enacted by Ga. L. 1970, p. 257, § 1; Ga. L. 1975, p. 1238, § 1; Ga. L. 1982, p. 3, § 33; Ga. L. 1991, p. 1424, § 6; Ga. L. 1993, p. 625, § 2; Ga. L. 2000, p. 136, § 33; Ga. L. 2013, p. 802, § 1/HB 312; Ga. L. 2015, p. 608, § 3/SB 108; Ga. L. 2019, p. 869, § 3/HB 277; Ga. L. 2022, p. 258, § 4/HB 969.
The 2019 amendment, effective July 1, 2019, substituted “exceeds the greater” for “exceeds the lesser” in the middle of paragraph (b)(2).
The 2022 amendment, effective July 1, 2022, deleted “and” from the end of subparagraph (a)(1)(E), substituted a semicolon for a period at the end of subparagraph (a)(1)(F), and added subparagraphs (a)(1)(G) through (a)(1)(I) and paragraph (a)(6).
Editor’s notes.
Ga. L. 1991, p. 1424, § 9/SB 397, not codified by the General Assembly, contained inconsistencies in references to the sections of the bill due to differences in the section numbers contained in the Senate version of the bill and the final version of the bill. Subsection (d) of Section 9 refers to Chapters 47, 48, and 49 of Title 33 in the Senate version of SB 347. Subsection (c) of Section 9 refers to Code Section 33-13-3.1 and this Code section in the Senate version of SB 347 and provides as follows: “Sections 3 and 4 of this Act shall apply to transactions between affiliates or subsidiaries taking place on or after July 1, 1991.”
Law reviews.
For note on 1991 amendment of this Code section, see 8 Ga. St. U.L. Rev. 89 (1992).

Structure Georgia Code