Ga. Comp. R. & Regs. 120-2-45-.19

Current through Rules and Regulations filed through June 17, 2024
Rule 120-2-45-.19 - Illegal Captive Insurance Company Operations

A person is prohibited from transacting insurance in this state without first obtaining a certificate of authority to operate as a captive insurance company or registering as a risk retention group. Failure to obtain a certificate of authority or make the required registration is a violation of Georgia law and the procurement of insurance from any person that has not obtained a certificate of authority or has not registered with the Commissioner shall subject such person to procurement taxes imposed by the Georgia law.

Ga. Comp. R. & Regs. R. 120-2-45-.19

O.C.G.A. §§ 33-40-4, 33-41-4, 33-41-23.

Original Rule entitled "Illegal Captive Insurance Company Operations" adopted. F. Sep. 21, 2015; eff. Oct. 11, 2015.