A domestic stock insurer may have one or more classes of common or preferred shares, all of which shall be shares with par value in accordance with paragraph (5) of subsection (b) of Code Section 33-14-4 and any or all of which may, subject to any restrictions of this title, consist of shares with full, limited, multiple, fractional, or no voting rights and such designations, preferences, qualifications, privileges, limitations, redemption provisions (in the case of preferred shares), options, conversion rights, and other special rights as shall be stated in this article. Except as otherwise stated in this article, this title, or other applicable laws, each share shall be equal in all respects to every other share.
History. Code 1981, § 33-14-45 , enacted by Ga. L. 1994, p. 694, § 2.
Law reviews.
For note on the 1994 enactment of this Code section, see 11 Ga. St. U.L. Rev. 196 (1994).
Structure Georgia Code
Chapter 14 - Domestic Stock and Mutual Insurers
Article 2 - Domestic Stock Insurers
§ 33-14-40. Reinsurance of Risks Generally; Bulk Insurance Agreements
§ 33-14-41. Dividends Payable Only Out of Realized Profits or Upon Special Approval of Commissioner
§ 33-14-44. Authorization and Procedure for Conversion of Stock Insurer to Mutual Insurer