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 120-2-9 - INSIDER TRADING OF DOMESTIC STOCK INSURER EQUITY SECURITIES
Rule 120-2-9-.01 - Forms for Reporting Ownership of Domestic Stock Insurers Equity Securities; Penalty
Current through Rules and Regulations filed through March 20, 2024
(1) Initial Filing. Every person who is directly or indirectly the beneficial owner of more than ten percent of any class of any equity security of a domestic stock insurer, or who is a director or an officer of such insurer, shall file in the office of the Commissioner within 30 days of the effective date of Chapter 56-16 a statement on form GID-18. Such form GID-18 shall require the disclosure of the name of the company in which equity securities are held; name of person whose ownership is reported; business address of such person; relationship of such person to the company in which equity securities are held; date of the event which requires the filing of the statement, and the title of security, nature of ownership, and amount owned as to all equity securities of such company. The person filing such form GID-18 shall subscribe to an oath as to the truthfulness of such statement to the best of his knowledge and belief and shall have his subscription to such oath witnessed by anyone authorized by law to administer oaths.
(2) Regular Filing. Every person, required under 120-2-9-.01(1) hereof to file a statement with the Commissioner, shall file a monthly statement on form GID-19, within ten days after the close of each calendar month if there has been a change in such person's ownership during such month. Such statement shall indicate the ownership at the close of the calendar month and such changes in ownership as have occurred during such calendar month; the name of the company in which equity securities are held; name of person whose ownership is reported, business address of such person; relationship of such person to the company; the month and year for which the statement is submitted, title of security; date of transaction; amount bought or otherwise acquired; amount sold or otherwise disposed of; nature of ownership; and amount owned beneficially at the end of the month. The person filing such form GID-19 shall subscribe to an oath as to the truthfulness of such statement to the best of his knowledge and belief and shall have his subscription to such oath witnessed by anyone authorized by law to administer oaths.
(3) The failure to file, by persons required under the provisions of Section 56-1601 of the Code of Georgia to file a statement, shall be adequate grounds for the denial of a company's application for renewal of its Certificate Authority under authority of Section 56-319 of the Code of Georgia.
(Forms GID-18 and GID-19 are attached hereto as "Exhibit A" and "Exhibit B" respectively, and incorporated herein.)
"Exhibit A" INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF EQUITY SECURITIES
Click here to view "Exhibit B" STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF EQUITY SECURITIES
Ga. Laws, 1960. p. 289 at p. 306; Ga. Laws, 1963. p. 373 at p. 330, as amended.
