Violations; Penalties

  1. Law
  2. Georgia Code
  3. Insurance
  4. Reinsurance Intermediaries
  5. Violations; Penalties

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  1. A reinsurance intermediary, insurer, or reinsurer found by the Commissioner, after a hearing conducted in accordance with Chapter 2 of this title, to be in violation of any provision of this chapter, shall:
    1. For each separate violation, pay a penalty in an amount not exceeding $10,000.00;
    2. Be subject to revocation or suspension of its license; and
    3. If a violation was committed by the reinsurance intermediary, such reinsurance intermediary shall make restitution to the insurer, reinsurer, rehabilitator, or liquidator of the insurer or reinsurer for the net losses incurred by the insurer or reinsurer attributable to such violation.
  2. The decision, determination, or order of the Commissioner pursuant to subsection (a) of this Code section shall be subject to judicial review pursuant to Chapter 2 of this title.
  3. Nothing contained in this Code section shall affect the right of the Commissioner to impose any other penalties provided in this title.
  4. Nothing contained in this chapter is intended to or shall in any manner limit or restrict the rights of policyholders, claimants, creditors, or other third parties or confer any rights to such persons.

(Code 1981, §33-49-11, enacted by Ga. L. 1991, p. 1424, § 8.)

Code Commission notes.

- Pursuant to Code Section 28-9-5, in 1991, "Code" was inserted preceding "section" in subsection (c).

CHAPTER 50 MULTIPLE EMPLOYER SELF-INSURED HEALTH PLANS

Sec.

  • 33-50-1. Definition of multiple employer self-insured health plan.
  • 33-50-2. License required to transact business; health plans of municipalities, counties, or other political subdivisions.
  • 33-50-3. Application for license; payment of fees; payment of premium taxes.
  • 33-50-4. Filing of bylaws, schedules of benefits, and management, administration, and trust agreements.
  • 33-50-5. Minimum surplus; capital requirements; security deposit; annual audit; aggregate excess stop-loss coverage; individual excess stop-loss coverage.
  • 33-50-6. Requirements for holding of funds collected.
  • 33-50-7. Required disclosure statements.
  • 33-50-8. Health plans subject to examinations.
  • 33-50-9. Dissolution of plan.
  • 33-50-10. Rules and regulations promulgated by Commissioner.
  • 33-50-11. Power of Commissioner to suspend license.
  • 33-50-12. Legislative intent.
  • 33-50-13. Multiple employer self-insured plans to make necessary filings.
  • 33-50-14. Commissioner approval of plans offering coverage in other states.
Code Commission notes.

- Ga. L. 1991, p. 1021; Ga. L. 1991, p. 1424; and Ga. L. 1991, p. 1606 all enacted a Chapter 47 of Title 33. Pursuant to Code Section 28-9-5, the chapter added by Ga. L. 1991, p. 1021, has been redesignated as Chapter 50 and the chapter added by Ga. L. 1991, p. 1606, has been redesignated as Chapter 51.


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