L&HGeorgiaeasy
Which Georgia statutory chapter principally governs the structure and standard provisions of annuity contracts issued in the state?
O.C.G.A. Title 33, Chapter 28 (annuities)
BO.C.G.A. Title 33, Chapter 21 (HMOs)
CO.C.G.A. Title 33, Chapter 43 (Medicare Supplement)
DO.C.G.A. Title 33, Chapter 38 (guaranty association)
Why this is the answer
Annuity contracts issued in Georgia are governed by O.C.G.A. Title 33, Chapter 28, which sets the standard annuity contract provisions, nonforfeiture requirements, the free-look right and creditor protection for annuities; annuity reserves fall under the Standard Valuation Law, § 33-10-13. Chapter 21 covers HMOs, Chapter 43 addresses Medicare Supplement insurance, and Chapter 38 sets up the guaranty association. Producers selling annuities must understand Chapter 28 because it defines mandatory contractual elements such as accumulation, annuitization phases, and minimum nonforfeiture values.
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