Official Code of Georgia Annotated

Title 33. INSURANCE · Chapter 11. INVESTMENTS · Article 2. INVESTMENTS OF LIFE, ACCIDENT AND SICKNESS, PROPERTY, AND CASUALTY INSURERS

33-11-59. Obligations in different currencies.

Active

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

An insurer doing business that requires it to make payment in different currencies shall have investments in securities in each of these currencies in an amount that independently of all other investments meets the requirements of this article as applied separately to the insurer’s obligations in each currency. The Commissioner may by order exempt an insurer, or by regulation a class of insurers, from this requirement if the obligations in other currencies are small enough that no significant problem for financial solidity would be created by substantial fluctuations in relative currency values.

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.

Code 1981, § 33-11-59, enacted by Ga. L. 1999, p. 592, § 12.

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

Text read from t33-ch1-22-(v24)-2020-pdf.pdf, Volume V24, 2020 edition, pages 561 to 562; merge action: carried; file SHA-256 4ecec175d949.