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HB 43 - Insurance; investments of insurers; investment pools

Williams, Robin L (114th)

Status Summary	HC:	Ins	SC:		FR:	01/12/99	LA:	01/13/99	H - Read 2nd Time

First Reader Summary

A BILL to amend Title 33 of the Official Code of Georgia Annotated, relating to insurance, so as to change certain provisions relating to investments of insurers; to change certain provisions relating to investment pools; and for other purposes.

Code Sections - 33-11-1

HB 43                                              LC 25 1134 
 
 
 
 
 
 
                        A BILL TO BE ENTITLED 
                               AN ACT 
 
 
  1- 1  To amend Title 33 of the Official Code of Georgia Annotated, 
  1- 2  relating to insurance, so as to change certain provisions 
  1- 3  relating to investments of insurers; to change certain 
  1- 4  provisions relating to investment pools; to provide for 
  1- 5  related matters; to repeal conflicting laws; and for other 
  1- 6  purposes. 
 
  1- 7       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: 
 
  1- 8                           SECTION 1. 
 
  1- 9  Title 33 of the Official Code of Georgia Annotated, relating 
  1-10  to insurance, is amended by striking Chapter 11, relating to 
  1-11  investments of insurers, and Chapter 11A, relating to 
  1-12  investment pools, and inserting in lieu thereof the 
  1-13  following: 
 
 
 
  1-14    33-11-1. 
 
  1-15    Insurers shall invest in only such investments as are 
  1-16    authorized by those provisions of the National Association 
  1-17    of Insurance Commissioners Investment of Insurers Model 
  1-18    Act, of whatever version, which the Commissioner has 
  1-19    determined to be reasonable, necessary, and in the public 
  1-20    interest and has adopted by rule or regulation." 
 
  1-21                           SECTION 2. 
 
  1-22  All laws and parts of laws in conflict with this Act are 
  1-23  repealed. 
 
 
 
 
 
 
 
 
 
 
 
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