33-12-2. Purposes for which deposits to be held.

Active

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

Deposits shall be held as follows:
(1)
When the deposit is required for authority to transact insurance in this state, the deposit shall be held for the protection of all the insurer’s policyholders or others entitled to the proceeds of policies within the United States, provided that this paragraph shall not apply to a deposit made under Code Section 33-3-9;#
(2)
When the deposit is required pursuant to the laws of another state, commonwealth, territory, district of the United States, province, or country, the deposit shall be held for such purposes as are required by such laws and as specified by the Commissioner at the time the deposit is made; or#
(3)
When the deposit is required pursuant to the retaliatory provision, Code Section 33-3-26, the deposit shall be held for purposes as specified in the Commissioner’s order requiring the deposit.#

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

Ga. L. 1887, p. 113, § 12; Civil Code 1895, § 2060; Civil Code 1910, § 2449; Code 1933, § 56-315; Code 1933, § 56-1102, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1983, p. 3, § 24; Ga. L. 1984, p. 22, § 33.

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 t33-ch1-22-(v24)-2020-pdf.pdf, Volume V24, 2020 edition, pages 584 to 585; merge action: carried; file SHA-256 4ecec175d949.

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