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The Commissioner may, without advance notice or a hearing thereon, place an insurer under administrative supervision or suspend immediately the certificate of authority of any insurer:
(1) As to which proceedings for receivership, conservatorship, rehabilitation, or other delinquency proceedings have been commenced in any state by the public insurance supervisory official of such state;
(2) Whose authority to do business in any state has been revoked, suspended, or restricted in any way by the public insurance supervisory official of such state; or
(3) If upon examination or at any other time it appears in the Commissioner's discretion that:
(A) The insurer's condition renders the continuance of its business hazardous to the public or to its insureds;
(B) The insurer exceeded its powers granted under its certificate of authority and applicable law;
(C) The insurer has failed to comply with the applicable provisions of this title;
(D) The business of the insurer is being conducted fraudulently; or
(E) The insurer gives its consent.
Cite this article: FindLaw.com - Georgia Code Title 33. Insurance § 33-3-18 - last updated April 14, 2021 | https://codes.findlaw.com/ga/title-33-insurance/ga-code-sect-33-3-18/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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