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 120-2-69 - REQUIREMENTS FOR INSURANCE COMPANY CUSTODIAL ACCOUNTS
Rule 120-2-69-.04 - Assets
Universal Citation: GA Rules and Regs r 120-2-69-.04
Current through Rules and Regulations filed through September 23, 2024
(1) Certificated and uncertificated securities shall be maintained in depositories within this State by domestic insurers and may be maintained outside of this State by foreign insurers provided that the appropriate affidavits or model custodian agreement, substantially in the form attached to this Regulation Chapter, be utilized as evidence of ownership whenever required by the Commissioner, his staff or his duly appointed examiners:
(a) Exhibit A: for use by a custodian bank where securities entrusted to its care have not been redeposited elsewhere;
(b) Exhibit B: for use in instances where a Custodian bank maintains securities on deposit with The Depository Trust Company or like entity;
(c) Exhibit C: for use where ownership is evidenced by book-entry at a Federal Reserve Bank;
(d) Exhibit D: for use by custodians who hold all or a majority of the assets of a domestic insurer.
(2) A domestic insurer may maintain securities outside of this State only with the express written permission of the Commissioner.
O.C.G.A. Sec. 33-2-9, 33-11-10, 33-14-13.
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