INSURANCE Domestic Stock and Mutual Insurers: Create Exceptions to Prohibited Transactions for Directors and Employees; Permit Transferability of Insurable Interests

Authors

Judy Lynn Poag

Document Type

Peach Sheet

Abstract

The Act allows officers, directors, committee members, and employees of an insurance company to engage in transactions with the insurance company if a written request is given to the Insurance Commissioner’s office and the request is not denied. The Act also changes the law relating to a corporation’s insurable interests. If a corporation is merged, sold, or otherwise becomes part of another corporation, the new corporation may retain the former corporation’s insurable interests.

Recommended Citation

Judy L. Poag, INSURANCE Domestic Stock and Mutual Insurers: Create Exceptions to Prohibited Transactions for Directors and Employees; Permit Transferability of Insurable Interests, 12 Ga. St. U. L. Rev. (1995).
Available at: https://readingroom.law.gsu.edu/gsulr/vol12/iss1/17