Insurance; captive insurance companies; provisions

A BILL to be entitled an Act to amend Title 33 of the Official Code of Georgia Annotated, relating to insurance, so as to extensively revise Chapter 41, relating to captive insurance companies; to provide for definitions; to provide for sponsored captive insurance companies; to provide for an incorporated protected cell; to provide for appointment of a registered agent; to provide for minimum capital or surplus; to provide for a dormant captive insurance company, certificate of dormancy, capital and surplus, certificate renewal, and exemptions; to provide for formation of sponsored captive insurance companies; to provide for conversion of protected cells; to provide for Commissioner duties and responsibilities; to provide for related matters; to repeal conflicting laws; and for other purposes.