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 120-2-62 - ASSUMPTION REINSURANCE
Rule 120-2-62-.02 - Purpose
Universal Citation: GA Rules and Regs r 120-2-62-.02
Current through Rules and Regulations filed through September 23, 2024
The purpose of this regulation is to implement Chapter 52 of Title 33 of the Official Code of Georgia Annotated to provide for the regulation of the transfer and novation of contracts of insurance by way of assumption reinsurance. This chapter sets forth a "Notice of Transfer" and "Second Notice of Transfer" pursuant to O.C.G.A Section 33-52-3(a) and an "Application for Approval of Assumption Reinsurance Agreement" pursuant to O.C.G.A. Sections 33-52-3(b) and 33-52-6.
O.C.G.A. Secs. 33-2-9, 33-52-3, 33-52-6.
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