Administrative Supervision or Suspension of Certificate of Authority for Cause

1. Law
2. Georgia Code
3. Insurance
4. Authorization and General Requirements for Transaction of Insurance
5. Administrative Supervision or Suspension of Certificate of Authority for Cause

The Commissioner may, without advance notice or a hearing thereon, place an insurer under administrative supervision or suspend immediately the certificate of authority of any insurer:

1. As to which proceedings for receivership, conservatorship, rehabilitation, or other delinquency proceedings have been commenced in any state by the public insurance supervisory official of such state;
2. Whose authority to do business in any state has been revoked, suspended, or restricted in any way by the public insurance supervisory official of such state; or
3. If upon examination or at any other time it appears in the Commissioner's discretion that:
   1. The insurer's condition renders the continuance of its business hazardous to the public or to its insureds;
   2. The insurer exceeded its powers granted under its certificate of authority and applicable law;
   3. The insurer has failed to comply with the applicable provisions of this title;
   4. The business of the insurer is being conducted fraudulently; or
   5. The insurer gives its consent.

(Code 1933, § 56-317.2, enacted by Ga. L. 1969, p. 585, § 1; Ga. L. 1991, p. 1424, § 1; Ga. L. 1992, p. 2877, § 6.)

Law reviews.

- For note on 1991 amendment of this Code section, see 8 Ga. St. U.L. Rev. 89 (1992).

RESEARCH REFERENCES

Am. Jur. 2d.

- 43 Am. Jur. 2d, Insurance, § 30.

C.J.S.

- 44 C.J.S., Insurance, § 63 et seq.

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