Section 33-3-17. Discretionary refusal, revocation, or suspension of certificate generally

   In addition to any other grounds set forth in this title, the Commissioner may refuse to issue a certificate of authority or after a hearing refuse to renew or may revoke or suspend an insurer's certificate of authority or place an insurer under administrative supervision if the insurer:

   (1) Violates any provision of this title other than those as to which refusal, suspension, or revocation is mandatory;

   (2) Knowingly fails to comply with or violates any rule, regulation, or order of the Commissioner;

   (3) Is found by the Commissioner to be in unsound condition or in such condition as to render its further transaction of insurance in Georgia hazardous to its policyholders or to the public;

   (4) As a general scheme or plot without just cause compels claimants to accept less than the amount due them or to bring an action against it to secure full payment thereof;

   (5) Refuses to be examined or to produce its accounts, records, and files for examination by the Commissioner when required; or refuses to furnish such other additional information as the Commissioner may deem necessary to consider the application for renewal of such insurer's certificate of authority;

   (6) Fails to pay any final judgment rendered against it in Georgia within 30 days after such judgment becomes final; or

   (7) Is affiliated with and under the same general management or interlocking directorate or ownership as another insurer which transacts direct insurance in Georgia without having a certificate of authority therefor, except as permitted to a surplus line insurer under Chapter 5 of this title or an insurance holding company under Chapter 13 of this title.

Code 1933, § 56-317, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1992, p. 2877, § 5.