Assets

  1. Law
  2. Georgia Code
  3. Insurance
  4. Captive Insurance Companies
  5. General Provisions
  6. Assets

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For the purposes of determining the financial condition of a captive insurance company, including, but not limited to, the maintenance of adequate reserves pursuant to Code Section 33-41-13, the reporting of business affairs pursuant to Code Section 33-41-15, and the examinations and investigations pursuant to Code Section 33-41-16, there shall be allowed as assets of a captive insurance company:

  1. Those assets described in Code Section 33-10-1;
  2. Those assets otherwise authorized by Code Sections 33-41-8 and 33-41-14;
  3. Obligations for premium payments, provided that such obligations are secured by letters of credit, as described in Code Section 33-41-9; and
  4. Assets that are approved by the Commissioner as admitted assets under rules adopted pursuant to this chapter.

(Code 1981, §33-41-12, enacted by Ga. L. 1988, p. 966, § 2; Ga. L. 2016, p. 825, § 1/SB 347.)


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