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Official Code of Georgia Annotated

Title 20. EDUCATION · Chapter 2. ELEMENTARY AND SECONDARY EDUCATION · Article 29. INTERLOCAL RISK MANAGEMENT AGENCY

20-2-2011. Bond, liability insurance, and claim office of administrator.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. (a)

    The Commissioner shall require each administrator to have and maintain a fidelity bond in an amount which the Commissioner deems appropriate but which is not less than $100,000.00.#

  2. (b)

    Errors and omissions coverage or other appropriate liability insurance in an amount which is not less than that specified by the rules and regulations of the Commissioner shall be maintained at all times by an administrator of a fund; and a certificate by the insurer or other appropriate evidence of such coverage shall be filed with the Commissioner by the fund.#

  3. (c)

    Each administrator shall maintain an office in this state for the payment, processing, and adjustment of the claims of the fund or funds which it represents.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 20-2-2011, enacted by Ga. L. 1986, p. 1172, § 1.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t20-ch1-2a-(v17)-2022-pdf.pdf, Volume V17, 2022 edition, page 901; merge action: carried; file SHA-256 8daa8948bdb5.