08 LC 37
0620
House
Bill 1221
By:
Representatives Maxwell of the
17th,
Keen of the
179th,
Rogers of the
26th,
and Meadows of the
5th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 33-24-6 of the Official Code of Georgia Annotated, relating
to consent of an insured to an insurance contract and exceptions, so as to
change the minimum number of employees required to be covered under an insurance
contract or contracts held by a corporation or trustee; to provided for related
matters; to repeal conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 33-24-6 of the Official Code of Georgia Annotated, relating to consent
of an insured to an insurance contract and exceptions, is amended by revising
paragraph (5) of subsection (a) as follows:
"(5)
A corporation not described in paragraph (4) of this subsection may effectuate
insurance upon its employees in whom it has an insurable
interest,
and a trustee of a trust established by a corporation providing life, health,
disability, retirement, or similar benefits may effectuate insurance upon
employees for whom such benefits are to be
provided,
if the insurance contract or contracts held by
the
such
corporation or
the
trustee cover at least
100
two
employees. For purposes of this paragraph, any employee of a group of
corporations consisting of a parent corporation and its directly or indirectly
owned subsidiaries shall be considered to be an employee of each corporation
within
the
that
group; or"
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.