For all claims in insolvencies, the priority of distribution of claims from the insurer’s estate shall be in accordance with the order as set forth in this Code section. Every claim in each class shall be paid in full or adequate funds retained for such payment before the members of the next class receive any payment. No subclasses shall be established within any class. The order of distribution of claims shall be:
History. Code 1981, § 33-37-41 , enacted by Ga. L. 1991, p. 1424, § 7; Ga. L. 1997, p. 683, § 2; Ga. L. 1997, p. 1581, § 3; Ga. L. 2019, p. 386, § 140/SB 133.
The 2019 amendment, effective July 1, 2019, substituted “For all claims in insolvencies” for “For all pending and future claims in insolvencies existing on July 1, 1997, and for all claims in future insolvencies” at the beginning of the introductory paragraph, and inserted “or her” in the last sentence of paragraph (2).
Code Commission notes.
Pursuant to Code Section 28-9-3 , in 1997, the amendment of this Code section by Ga. L. 1997, p. 683, § 2, was treated as impliedly repealed and superseded by Ga. L. 1997, p. 1581, § 3, due to irreconcilable conflict. See County of Butts v. Strahan, 151 Ga. 417 (1921); Keener v. McDougall, 232 Ga. 273 (1974).
Editor’s notes.
Ga. L. 1997, p. 683, § 6, not codified by the General Assembly, provides that the 1997 amendment “shall apply to all claims filed in any proceeding to liquidate an insurer, which proceeding is pending on July 1, 1997, or which is commenced on or after July 1, 1997.”
Ga. L. 1997, p. 1581, § 5, not codified by the General Assembly, provides that the 1997 amendment “shall apply to all claims filed in any proceeding to liquidate an insurer which proceeding is pending on July 1, 1997, or which is commenced on or after July 1, 1997”.
Structure Georgia Code
Chapter 37 - Insurers Rehabilitation and Liquidation
Article 3 - Procedure for Rehabilitation
§ 33-37-11. Petition for Rehabilitation; Grounds
§ 33-37-12. Order to Rehabilitate; Commissioner to Be Appointed as Rehabilitator; Effect of Order
§ 33-37-13. Authority of Rehabilitator; Additional Remedies; Rehabilitation Plan
§ 33-37-16. Grounds for Order of Liquidation
§ 33-37-18. Termination of Policy Coverage
§ 33-37-19. Petition for Dissolution of Corporate Existence
§ 33-37-20. Powers of Liquidator
§ 33-37-21. Notice of Liquidation
§ 33-37-22. Responsibility of Agent to Provide Information; Penalty for Violation
§ 33-37-24. Time for Filing List of Assets; Reducing Assets to Liquidity
§ 33-37-25. Fraudulent Transfers or Obligations Incurred; Avoidance
§ 33-37-28. Disallowing Preferred Creditor’s Claims
§ 33-37-29. Mutual Debts and Credits
§ 33-37-31. Liability of Reinsurers
§ 33-37-33. Application for Approval of Proposal to Disburse Assets; Notice
§ 33-37-34. Proof of Claims; Late Filing
§ 33-37-36. Third-Party Contingent Claim; Claims Due in Future; Claims Under Employment Contracts
§ 33-37-37. Third-Party Claim Against Insured
§ 33-37-38. Procedure When Claim Denied
§ 33-37-39. When Third Person Subrogated to Rights of Creditor
§ 33-37-40. Determining Value of Security Held by Secured Creditor
§ 33-37-41. Priority of Distribution of Claims
§ 33-37-42. Authority of Liquidator to Compound, Compromise, or Negotiate Claims; Report to Court
§ 33-37-43. Payment of Distributions
§ 33-37-44. Disposition of Unclaimed Funds Subject to Distribution
§ 33-37-45. Liquidator’s Application for Discharge
§ 33-37-46. Reopening Liquidation Proceedings