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.
(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).
ARTICLE 3 DOMESTIC MUTUAL INSURERS
RESEARCH REFERENCES
ALR.
- Right of mutual benefit association to raise rates, 80 A.L.R. 659.