Georgia Laws, Rules, and Regulations Pertinent to Life, Accident, and Sickness Insurance
Who receives the profits of a Georgia stock insurer?
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, so ownership and its returns run to shareholders. Policyholder returns describe the mutual form, and neither agents nor the state take profits as owners.Source: O.C.G.A. § 33-14-2 — 33-14-2(2), Ownership by shareholders
More georgia laws, rules, and regulations pertinent to life, accident, and sickness insurance questions
- A Georgia insurer charges a higher rate to an applicant whose health history places him in a different underwriting class. Is that unfair discrimination?
- A Georgia insurer does not itself set the differing rates, but knows its agents apply them within one class. Is the unfair discrimination provision engaged?
- A Georgia insurer has no shares to issue and cannot raise capital by selling equity. Which form is it?
- A Georgia insurer has no system of control over its advertisements and a misleading one reaches the public. What is the position?
- A Georgia insurer is both due for its periodic examination and under investigation for trade practices. Which authorities apply?
- A Georgia insurer refuses to pay a claim without looking into the facts. Which enumerated practice does that match?
592 Georgia questions like this one.
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