---
title: O.C.G.A. § 33-11-31. Acquisition and holding of real property for recreation, hospitalization, convalescence, and retirement of employees.
collection: code
id: 33-11-31
cite_as: O.C.G.A. § 33-11-31 (2025)
canonical_url: https://georgiacommons.org/code/33-11-31
md_url: https://georgiacommons.org/code/33-11-31.md
text_url: https://georgiacommons.org/code/33-11-31/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=530
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/33-11.md
previous: https://georgiacommons.org/code/33-11-30.md
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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 / INVESTMENTS / INVESTMENTS OF CERTAIN INSURERS
---

# O.C.G.A. § 33-11-31. Acquisition and holding of real property for recreation, hospitalization, convalescence, and retirement of employees.

Subject to prior approval of the Commissioner, an insurer may acquire and hold real property for recreation, hospitalization, convalescence, and retirement purposes of its employees. All investments under this Code section shall not exceed 5 percent of the insurer’s surplus; or, if a mutual or reciprocal insurer, all of those investments shall not exceed 5 percent of the insurer’s surplus in excess of the surplus required to be maintained under this title for its authority to transact insurance.

## History

Code 1933, § 56-1030, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1999, p. 592, § 6.