(a) When notice is required under this article and except as otherwise permitted or directed by the court or the Commissioner, such notice shall be transmitted within 45 days of the event triggering such requirement: (1) To the chief insurance regulatory official in each jurisdiction in which the transferring insurer: (A) Holds or has ever held a certificate of authority; and(B) In which policies that are part of the subject business were issued or policyholders currently reside;(2) To the National Conference of Insurance Guaranty Funds, the National Organization of Life and Health Insurance Guaranty Associations, and all state insurance guaranty associations for the states in which the transferring insurer: (A) Holds or has ever held a certificate of authority; and(B) In which policies that are part of the subject business were issued or policyholders currently reside;(3) To reinsurers of the transferring insurer pursuant to the notice provisions of the reinsurance agreements applicable to the policies that are part of the subject business, or where an agreement has no provision for notice, by internationally recognized delivery service;(4) To all policyholders holding policies able to the policies that are part of the subject business, or where an agreement has no provision for notice, by internationally recognized delivery service;(4) To all policyholders holding policies that are part of the subject business at their last known address as indicated by the records of the transferring insurer or to the address to which premium notices or other policy documents are sent. Notice shall also be sent to the transferring insurer's agents or brokers of record on the subject business; and(5) By publication in a newspaper or other publication of general circulation in the state in which the transferring insurer has its principal place of business and in such other publications that the Commissioner requires.(b) When notice is given in accordance with this Code section, any information or orders under this article shall be conclusive with respect to all intended recipients of the notice, whether or not the intended recipients receive actual notice.(c) When notice is required by an applicant or petitioner but a receiver of the insurer has been appointed pursuant to the laws of the insurer's home jurisdiction, the receiver shall provide the required notice.Added by equired by an applicant or petitioner but a receiver of the insurer has been appointed pursuant to the laws of the insurer's home jurisdiction, the receiver shall provide the required notice.Added by 2024 Ga. Laws 592,§ 4, eff. 5/6/2024.
Georgia Legal Code