---
title: O.C.G.A. § 33-10-3. Deduction of assets from liabilities and liabilities from assets generally.
collection: code
id: 33-10-3
cite_as: O.C.G.A. § 33-10-3 (2025)
canonical_url: https://georgiacommons.org/code/33-10-3
md_url: https://georgiacommons.org/code/33-10-3.md
text_url: https://georgiacommons.org/code/33-10-3/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t33-ch1-22-(v24)-2020-pdf.pdf?sfvrsn=a873240d_0#page=470
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/33-10.md
previous: https://georgiacommons.org/code/33-10-2.md
next: https://georgiacommons.org/code/33-10-4.md
index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: INSURANCE / ASSETS AND LIABILITIES
---

# O.C.G.A. § 33-10-3. Deduction of assets from liabilities and liabilities from assets generally.

Assets may be allowable as deductions from corresponding liabilities, and liabilities may be charged as deductions from assets, in accordance with the form of annual statement applicable to such insurer as directed by the Commissioner or otherwise in his or her discretion.

## History

Code 1933, § 56-902, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 2019, p. 337, § 1-57/SB 132.

The 2019 amendment, effective July 1, 2019, substituted ‘‘as directed’’ for ‘‘as prescribed’’ and inserted ‘‘or her’’ near the end of this Code section.