Rule 120-2-35-.11. Sale of Securities by the Insurance Company Prohibited

Insurance companies are prohibited from selling securities which are on deposit with the Commissioner of Insurance or the custodian bank without the express written consent of the Commissioner prior to the sale and only after arrangements for replacements of equal value have been finalized.

Authority: O.C.G.A. Secs. 33-2-9, 33-12-4, 33-12-5(2).

History. Original Rule entitled "Sale of Securities by the Insurance Company Prohibited" adopted. F. Jul. 19, 1996; eff. Aug. 8, 1996.