2025-09-05T10:42:48-05:00 2024-12-31 582487348 Aprio Advisory Group LLC 2002 Summit Boulevard Suite 120 Atlanta GA 30319 990 2024-01-01 581737531 Georgia Life & Health Insurance Guaranty Association GEOR 7706219835 3700 Crestwood Parkway Ste 400 Duluth GA 30096 Frank Knighton Jr Executive Director 7706219835 2025-09-03 1 1 Stacy Cullen P00974308 4048929651 2025-09-03 2024 2025-03-06 01:10:19Z Frank Knighton Jr 3700 Crestwood Parkway Ste 400 Duluth GA 30096 3011234 0 X www.gaiga.org X 1981 GA Association was established to provide certain protections to policyholders of insolvent insurers in accordance with OCGA 33-38-1 ET SEQ. 9 9 0 9 0 0 0 0 5296168 1123105 3131446 1888129 0 0 8427614 3011234 0 0 2450425 12748141 0 0 0 0 0 667990 705179 3118415 13453320 5309199 -10442086 105088430 94646344 0 0 105088430 94646344 To protect Georgia resident policy owners, insureds, and beneficiaries of life & health insurance and annuity policies, plans or contracts against failure in the performance of contractual obligations due to the insolvency of the insurer. 0 0 The persons benefited by the organization were Georgia resident policy owners, insureds, and beneficiaries of life & health and annuity policies, plans or contracts of insolvent insurers. When an admitted life and health insurer is declared to be insolvent and ordered to liquidate, the association is required to assume certain contractual obligations of that company in order to protect Georgia resident policyholders. In compliance with this obligation, the association endeavors to cancel all cancelable policies and to settle all non-cancelable policies through reinsurance or sale as soon as possible after the association assumes the administrative responsibility for policies of insolvent insurance companies. 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3 0 1 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 0 0 1 1 0 GA X Georgia Life & Health Insurance Guaranty Association 7706219835 3700 Crestwood Parkway Ste 400 Duluth GA 30096 X D Harley Yancey IV Chairman 0.10 X X 0 0 0 Ted Kennedy Vice Chairman 0.10 X X 0 0 0 Eugene Choate Secretary/Treasurer 0.10 X X 0 0 0 Raymond Waugh Director 0.10 X 0 0 0 Norah B Jones Director 0.10 X 0 0 0 Steve Beaver Director 0.10 X 0 0 0 Kirkland McGhee Director 0.10 X 0 0 0 Nick DeJong Director 0.10 X 0 0 0 Gary Henning Director 0.10 X 0 0 0 0 0 0 0 0 0 0 Marchman-Steele Agency Inc 3700 Crestwood Parkway Suite 400 Duluth GA 30096 Management & Ad 450940 1 Distributions In Liquidation 524298 610005 610005 Premium Receipts 524298 413100 413100 Ancillary Proceeds 524298 100000 100000 1123105 1888129 1888129 3011234 1123105 0 1888129 12748141 450940 7906 22321 14275 Other Expenses 100169 NOLHGA Dues 93262 Data Survey Expense 16306 13453320 3669069 937759 101419361 93708585 105088430 94646344 0 0 X 105088430 94646344 105088430 94646344 105088430 94646344 -10442086 0 X X 0 1 X 1 0 1 0 0 0 X 3011234 0 3011234 0 3011234 13453320 0 13453320 0 13453320 Part X, Line 2: The Association is a tax-exempt organization as described in Section 501(c)(6) of the Internal Revenue Code. As such, the Association is subject to income taxes only on any unrelated business income under the provisions of Section 511 of the Internal Revenue Code. The Association is no longer subject to income tax examinations for calendar years prior to 2020. A Treasury Strip 581737531 912803BE2 2022-04-28 3248735 Fixed Interest 0 0 0 B Treasury Strip 581737531 912820T31 2023-11-17 2827080 Fixed Interest 0 0 0 C Treasury Strip 581737531 912833LV0 2022-07-18 2757090 Fixed Interest 0 0 0 D Treasury Strip 581737531 912803BF9 2022-05-23 5040750 Fixed Interest 0 0 0 A 0 0 0 1 B 0 0 0 1 C 0 0 0 1 D 0 0 0 1 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 A Treasury Strip 581737531 912820Y43 2022-11-22 2651760 Fixed Interest 0 0 0 B Treasury Strip 581737531 912833LX6 2023-11-17 2736750 Fixed Interest 0 0 0 C Treasury Strip 581737531 912803BG7 2022-08-17 5395380 Fixed Interest 0 0 0 D Treasury Strip 581737531 912833LZ1 2022-12-02 2626410 Fixed Interest 0 0 0 A 0 0 0 1 B 0 0 0 1 C 0 0 0 1 D 0 0 0 1 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 A Treasury Strip 581737531 912833LZ1 2023-12-27 2270750 Fixed Interest 0 0 0 B Treasury Strip 581737531 912833PA2 2022-12-02 2602230 Fixed Interest 0 0 0 C Treasury Strip 581737531 912833PB0 2022-10-12 2110650 Fixed Interest 0 0 0 D Treasury Strip 581737531 912833PC8 2023-01-31 3446480 Fixed Interest 0 0 0 A 0 0 0 1 B 0 0 0 1 C 0 0 0 1 D 0 0 0 1 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 A Treasury Strip 581737531 912833PC8 2023-02-17 2974405 Fixed Interest 0 0 0 B Treasury Strip 581737531 912833PD6 2023-02-17 2948400 Fixed Interest 0 0 0 C Treasury Strip 581737531 912833PD6 2023-10-06 3390560 Fixed Interest 0 0 0 D Treasury Strip 581737531 912833PE4 2023-05-22 5148060 Fixed Interest 0 0 0 A 0 0 0 1 B 0 0 0 1 C 0 0 0 1 D 0 0 0 1 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 A Treasury Strip 581737531 912833QB9 2023-05-22 5101560 Fixed Interest 0 0 0 B Treasury Strip 581737531 912833QB9 2023-05-22 3372520 Fixed Interest 0 0 0 C Treasury Strip 581737531 912833RY8 2023-09-28 2053325 Fixed Interest 0 0 0 D Treasury Strip 581737531 912833WQ9 2023-08-23 3265205 Fixed Interest 0 0 0 A 0 0 0 1 B 0 0 0 1 C 0 0 0 1 D 0 0 0 1 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 A Treasury Strip 581737531 9128205B9 2023-09-28 1629480 Fixed Interest 0 0 0 B Treasury Strip 581737531 912833RZ5 2023-08-23 3234805 Fixed Interest 0 0 0 C Treasury Strip 581737531 912833RZ5 2023-10-06 1602600 Fixed Interest 0 0 0 D Treasury Strip 581737531 912833WR7 2023-09-08 2392800 Fixed Interest 0 0 0 A 0 0 0 1 B 0 0 0 1 C 0 0 0 1 D 0 0 0 1 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 A Treasury Strip 581737531 912833WR7 2024-01-24 2068375 Fixed Interest 0 0 0 B Treasury Strip 581737531 912833XN5 2024-02-20 5696110 Fixed Interest 0 0 0 C Treasury Strip 581737531 912833XS4 2024-05-16 4455275 Fixed Interest 0 0 0 D Treasury Strip 581737531 912833XP0 2024-08-16 6661040 Fixed Interest 0 0 0 A 0 0 0 1 B 0 0 0 1 C 0 0 0 1 D 0 0 0 1 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 Form 990, Part VI, Section A, line 3 The association contracts with the Marchman Steele Agency, Inc. to carry out the day-to-day management responsibilities of the association. Form 990, Part VI, Section A, line 6 Under the Georgia statutes, all insurance companies, health maintenance organizations and health care corporations authorized to sell life insurance, annuity contracts or health insurance in Georgia ("member insurers") are deemed to be members of the association. Form 990, Part VI, Section A, line 7a The board members are appointed by the insurance commissioner in accordance with the procedures outlined in the Plan of Operation. Form 990, Part VI, Section A, line 7b The association comes under the immediate supervision of the Insurance Commissioner. Form 990, Part VI, Section B, line 11b After the return is reviewed thoroughly by the administrator's CFO and the executive director, the return is forwarded to the board members for their comments prior to filing with the IRS. Form 990, Part VI, Section B, line 12c Each year, all directors and officers of the Association and key employees of the Administrator are provided with notice of the Conflicts of Interest Policy which is to be signed and returned to the Executive Director to keep with the Association's records. Any conflicts are to be disclosed on the signed statement. The conflicts of interest policy is enforced by the officers of the Board of Directors of the Association in accordance with the policy. Form 990, Part VI, Section B, line 15 Each year the board of directors reviews the salaries of the Executive Director and other key employees of the administrator and the billing rates and practices of the association. Form 990, Part VI, Section C, line 19 The annual report and the audited financial statements of the Association are provided to the Insurance Commissioner and others upon request. The Association is governed by Chapter 38, Title 33 of the Georgia Insurance Code to accomplish its mission. Form 990, Part XII, Line 1 The organization has changed its accounting method from cash to modified cash. FORM 990, PART XII, LINE 2C: The organization's audit committee recommends the independent accounting firm to the board for approval and oversees the audit.