Georgia Laws, Rules, and Regulations Pertinent to Life, Accident, and Sickness Insurance
A Georgia insurer's annual report shows capital divided into shares, a board answerable to shareholders, and profits distributed as dividends on those shares. Which form is it?
Answer and explanation
Answer: B. Section 33-14-2(2) defines a stock insurer as an incorporated insurer with capital divided into shares and owned by its shareholders, which is what share capital and shareholder governance describe. A mutual insurer under (1) has no capital stock and is owned by policyholders, while fraternal societies and reciprocals are separate forms.Source: O.C.G.A. § 33-14-2 — 33-14-2(2), Stock insurer
More georgia laws, rules, and regulations pertinent to life, accident, and sickness insurance questions
- An agent's misleading comparison is made to one client in a meeting rather than published. Which paragraph of section 33-6-4 fits better?
- An applicant concealed a material fact on the Georgia license application, discovered after issue. What ground applies?
- An insurer files a knowingly false statement of its financial condition with a Georgia public official. Which provision applies?
- An insurer formed under Alabama law writes business in Georgia. How does Georgia classify it?
- An insurer formed under the laws of Ontario writes business in Georgia. How is it classified?
- An insurer relocates out of Georgia. What does section 33-2-11 provide about examinations afterward?
592 Georgia questions like this one.
Every answer explained, the ones you miss come back on a spaced schedule, and a plan built from your exam date.