Georgia § 33-38-1 Purpose

Georgia Statutes

§ 33-38-1 — Purpose

Georgia § 33-38-1

Title33

This text of Georgia § 33-38-1 (Purpose) 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. § 33-38-1 (2026).

Text

The purpose of this chapter is to protect the persons specified in subsection (b) of Code Section 33-38-2 , subject to certain limitations, against failure in the performance of contractual obligations, under life, health, and annuity policies, plans, or contracts specified in subsection (a) of Code Section 33-38-2 , due to the impairment or insolvency of the member insurer issuing such policies, plans, or contracts. To provide this protection:

(1)an association of member insurers is created to enable the guaranty of payment of benefits and continuation of coverages as limited by this chapter;

(2)members of the association are subject to assessment to provide funds to carry out the purpose of this chapter; and (3) the association is authorized to assist the Commissioner, in the prescribe

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The purpose of this chapter is to protect the persons specified in subsection (b) of Code Section 33-38-2 , subject to certain limitations, against failure in the performance of contractual obligations, under life, health, and annuity policies, plans, or contracts specified in subsection (a) of Code Section 33-38-2 , due to the impairment or insolvency of the member insurer issuing such policies, plans, or contracts. To provide this protection: (1) an association of member insurers is created to enable the guaranty of payment of benefits and continuation of coverages as limited by this chapter; (2) members of the association are subject to assessment to provide funds to carry out the purpose of this chapter; and (3) the association is authorized to assist the Commissioner, in the prescribed manner, in the detection and prevention of insurer impairments or insolvencies.