Georgia § 33-5-40 - Legislative findings.
Full text of Georgia Official Code of Georgia Annotated § 33-5-40 — Legislative findings., with citation guidance and answers to common questions.
§ 33-5-40. Legislative findings.
The General Assembly finds the federal Nonadmitted and Reinsurance Reform Act of 2010, which was incorporated into the federal Dodd-Frank Wall Street Reform and Consumer Protection Act, P.L. 111-203, provides that only an insured's home state may require premium tax payment for nonadmitted insurance and authorizes states to enter into a compact or otherwise establish procedures to allocate among the states the nonadmitted insurance premium taxes. The General Assembly further finds that as the states are still in flux as to which proposed plan is best for them to enter, or if any agreement should be entered into by the state, the Commissioner is in a unique position to weigh these options and to determine what is in the best interest of the state financially. Therefore, the General Assembly acknowledges that some flexibility is necessary to determine that the best financial interests of the state are met. (Code 1981, § 33-5-40 , enacted by Ga. L. 2011, p. 449, § 8/HB 413; Ga. L. 2019, p. 337, § 1-32/SB 132.) The 2019 amendment, effective July 1, 2019, deleted "of Insurance" following "Commissioner" in the second sentence of this Code section. U.S. Code. - The Dodd-Frank Wall Street Reform and Consumer Protection Act, referred to in this Code section, is codified at 12 U.S.C. § 5381 et seq.
Frequently Asked Questions About Georgia § 33-5-40
What does Official Code of Georgia Annotated § 33-5-40 cover?
Section 33-5-40 ("Legislative findings.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 33-5-40?
A common citation format is "Official Code of Georgia Annotated § 33-5-40" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 33-5-40 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.