State RegulationsGA specificDifficulty 2/5
A life insurer chartered in Tennessee holds a Georgia certificate of authority and sells policies in Atlanta. Under O.C.G.A. § 33-3-1, the insurer is:
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Under O.C.G.A. § 33-3-1, an insurer organized under the laws of another U.S. state is a foreign insurer in Georgia, and holding a certificate of authority does not change that domicile-based label. The classification tells regulators where the insurer was formed; it is separate from the question of whether the insurer is authorized to transact business here.
Why the other options are wrong
- A) Domestic status belongs to insurers formed under Georgia law.
- B) Alien status is reserved for insurers formed outside the United States.
- C) Fraternal status describes a benevolent society operating for its members, not a Tennessee charter.
Memory hook
Tennessee charter, Georgia sales = foreign, no matter how authorized.