Georgia Code
Article 1 - General Provisions
§ 33-41-5. Incorporation

(a.1) (1) A pure captive insurance company or an agency captive insurance company may be incorporated as a stock insurer or organized as a manager-managed limited liability company.
(2) An association captive insurance company, an industrial insured captive insurance company, a sponsored captive insurance company, or a risk retention group captive insurance company may be incorporated as a stock insurer, incorporated as a mutual insurer, or organized as a manager-managed limited liability company.
History. Code 1981, § 33-41-5 , enacted by Ga. L. 1988, p. 966, § 2; Ga. L. 2016, p. 825, § 1/SB 347; Ga. L. 2017, p. 682, § 4/SB 173; Ga. L. 2019, p. 533, § 2-5/HB 99.
The 2019 amendment, effective July 1, 2019, added subsection (a); redesignated former subsection (a) as present subsection (a.1); substituted the present provisions of paragraph (a.1)(2) for the former provisions, which read: “An association captive insurance company, an industrial insured captive insurance company, or a risk retention group captive insurance company may be:
“(A) Incorporated as a stock insurer;
“(B) Incorporated as a mutual insurer; or
“(C) Organized as a manager managed limited liability company.”; and added subsection (h).

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