If the Commissioner finds that any fund or its administrator (1) has failed to comply with any provision of this article, (2) is fraudulently operated, (3) is in such condition as to render further fund operations hazardous to the public interest or to the interests of the fund’s members and their employees, (4) is financially unable to meet its obligations and claims as they come due, or (5) has violated any other provision of law, he may apply to the Superior Court of Fulton County for an injunction. The court may forthwith issue a temporary injunction restraining the transaction of any business by the fund; and, after a full hearing, it may make the injunction permanent and appoint one or more receivers to take possession of the books, papers, moneys, and other assets of the fund in order to settle its affairs and distribute its funds to those entitled thereto, subject to such rules and orders as the court may prescribe. If it appears that a crime has been committed in connection with the administration or management of any fund, the Attorney General may pursue the appropriate criminal action.
History. Code 1933, § 114-621a, enacted by Ga. L. 1980, p. 1686, § 1; Ga. L. 1981, p. 1759, § 1.
Structure Georgia Code
Title 34 - Labor and Industrial Relations
Chapter 9 - Workers’ Compensation
Article 5 - Group Self-Insurance Funds
§ 34-9-150. Purpose of Article
§ 34-9-151.1. Eligibility for Establishing a Fund
§ 34-9-154. Compliance With Workers’ Compensation Obligations by Participation in Fund
§ 34-9-157. Boards of Trustees — Appointment of Members
§ 34-9-158. Boards of Trustees — Powers
§ 34-9-161. Securities Deposit; Excess Loss Funding Program
§ 34-9-163. Investment of Assets; Maintenance of Loss Reserves
§ 34-9-165. Requirements as to Contracts Between Funds and Administrators Not Employed by Funds
§ 34-9-166. Fiduciary Responsibilities of Trustees, Officers, or Administrators of Moneys
§ 34-9-167. Bond, Liability Insurance, and Resident Office of Administrator
§ 34-9-172. Examinations by Commissioner to Verify Solvency of Funds
§ 34-9-174. Promulgation of Rules and Regulations
§ 34-9-175. Hearings or Other Proceedings for Aggrieved Parties
§ 34-9-176. Service of Process; Venue of Actions
§ 34-9-177. Funds Not to Be Deemed Insurers
§ 34-9-178. Construction of Article
§ 34-9-179. Application of Chapter 6 of Title 33 to Funds; Enforcement by Commissioner
§ 34-9-181. Administrative Fines, Probation, or Additional Penalties