Georgia § 33-11-64 Conditions under which insurer shall not acquire an investment; special rated credit instruments

Georgia Statutes

§ 33-11-64 — Conditions under which insurer shall not acquire an investment; special rated credit instruments

Georgia § 33-11-64

Title33

This text of Georgia § 33-11-64 (Conditions under which insurer shall not acquire an investment; special rated credit instruments) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 33-11-64 (2026).

Text

(a)An insurer shall not acquire an investment under this article if, as a result of and after giving effect to the investment, the aggregate amount of all investments then held by the insurer under this article would exceed:

(1)For medium and lower grade investments, 20 percent of admitted assets;

(2)For lower grade investments, 10 percent of admitted assets;

(3)For investments rated 5 or 6 by the Securities Valuation Office or any successor office pursuant to the valuation procedures of Code Section 33-10-14 , 5 percent of admitted assets; or (4) For investments rated 6 by the Securities Valuation Office or any successor office pursuant to the valuation procedures of Code Section 33-10-14 , 1 percent of admitted assets.

(b)The aggregate amount of special rated credit instruments held

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(a) An insurer shall not acquire an investment under this article if, as a result of and after giving effect to the investment, the aggregate amount of all investments then held by the insurer under this article would exceed: (1) For medium and lower grade investments, 20 percent of admitted assets; (2) For lower grade investments, 10 percent of admitted assets; (3) For investments rated 5 or 6 by the Securities Valuation Office or any successor office pursuant to the valuation procedures of Code Section 33-10-14 , 5 percent of admitted assets; or (4) For investments rated 6 by the Securities Valuation Office or any successor office pursuant to the valuation procedures of Code Section 33-10-14 , 1 percent of admitted assets. (b) The aggregate amount of special rated credit instruments held by an insurer pursuant to the valuation procedures of Code Section 33-10-14 shall not exceed 10 percent of admitted assets.