Georgia § 33-14-16 Participating and nonparticipating policies; earned dividend not to be made contingent upon payment of renewal premium

Georgia Statutes

§ 33-14-16 — Participating and nonparticipating policies; earned dividend not to be made contingent upon payment of renewal premium

Georgia § 33-14-16

Title33

This text of Georgia § 33-14-16 (Participating and nonparticipating policies; earned dividend not to be made contingent upon payment of renewal premium) 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. § 33-14-16 (2026).

Text

(a)If so provided in its charter, a domestic stock or domestic mutual insurer may issue any or all of its policies with or without participation in profits, savings, or unabsorbed portions of premiums, may classify policies issued on a participating or nonparticipating basis, and may determine the right to participate and the extent of participation of any class or classes of policies. Any classification or determination shall be reasonable and shall not unfairly discriminate as between policyholders within the same classification.

(b)No dividend, otherwise earned, shall be made contingent upon the payment of a renewal premium on any policy.

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(a) If so provided in its charter, a domestic stock or domestic mutual insurer may issue any or all of its policies with or without participation in profits, savings, or unabsorbed portions of premiums, may classify policies issued on a participating or nonparticipating basis, and may determine the right to participate and the extent of participation of any class or classes of policies. Any classification or determination shall be reasonable and shall not unfairly discriminate as between policyholders within the same classification. (b) No dividend, otherwise earned, shall be made contingent upon the payment of a renewal premium on any policy.