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 120-2-23 - INSURANCE HOLDING COMPANY REGULATIONS
Rule 120-2-23-.16 - Disclaimers and Termination of Registration
Universal Citation: GA Rules and Regs r 120-2-23-.16
Current through Rules and Regulations filed through September 23, 2024
(1) A disclaimer of affiliation or a request for termination of registration claiming that a person does not, or will not upon the taking of some proposed action, control another person (hereinafter referred to as the "subject") shall contain the following information:
(a) The number of authorized, issued, and outstanding voting securities of the subject;
(b) With respect to the person whose control is denied and all affiliates of such person, the number and percentage of shares of the subject's voting securities which are held of record or known to be beneficially owned, and the number of such shares concerning which there is a right to acquire, directly or indirectly;
(c) All material relationships and bases for affiliation between the subject and the person whose control is denied and all affiliates of such person; and
(d) A statement explaining why such person should not be considered to control the subject.
(2) A request for termination of registration shall be deemed to have been granted unless the Commissioner, within thirty (30) days after he receives the request, notifies the registrant otherwise.
O.C.G.A. Secs. 33-2-9, 33-13-4, 33-13-9.
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