Compilation of Rules and Regulations of the State of Georgia
Department 120 - OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER
Chapter 120-2 - RULES OF COMMISSIONER OF INSURANCE
Subject 120-2-14 - GEORGIA AUTOMOBILE INSURANCE PLAN
Rule 120-2-14-.05 - Duties of Governing Committee
Current through Rules and Regulations filed through March 20, 2024
(1) The Committee shall meet at least twice per year and as often as may be required to perform the duties of administration of the Plan. The Committee will be empowered and shall appoint a manager, budget expenses, levy assessments, disburse funds and perform all duties essential to the proper administration of the Plan.
(2) Annually, the Manager shall prepare an operating budget in the prescribed manner for submission to the Committee. Such budget shall be approved by the Committee and furnished to the subscribers on request. Any expenditure in excess of or not included in the annual budget shall be approved by the Committee.
(3) Upon request, the Committee will furnish to any subscriber a written annual report of operations of the Plan in such form and detail as the Committee may determine.
(4) The Committee shall file with the Commissioner a manual including rates and manual rules in such detail as may be necessary for distribution and processing of automobile insurance applications received from applicants, the contents of such manual being known as the Plan.
(5) The Committee shall file necessary and suitable amendments to the Plan as required for the continued effective operation of the Plan.
(6) The Commissioner shall, within thirty (30) days of receipt of a filing as required in paragraphs (4) or (5) above, approved or disapproved such filing, provided, however, the Commissioner may extend by not more than thirty (30) days the period within which he may approve or disapprove the filing by giving written notice to the Committee of the extension before the expiration of the initial thirty-day period.
(7) If the Committee fails to submit an acceptable Plan within thirty (30) days of the effective date of this Regulation, or if at any time fails to submit necessary or suitable amendments thereto, the Commissioner shall, after consultation with insurance companies authorized to issue automobile policies in this State and after notice and hearing, adopt and promulgate such reasonable Plan as is necessary or advisable to effectuate the provision of this Regulation.
O.C.G.A. §§ 33-2-9 and 40-9-100.
