33-12-3. Assets deemed eligible for deposit.

Active

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

(a)
All deposits required for authority to transact insurance in this state shall consist of any combination of the securities eligible for the investment of capital funds of domestic insurers as enumerated and described in paragraph (3) of Code Section 33-11-5, except real estate, notes secured by real estate, stocks, or investment trust or investment company shares.#
(b)
All deposits required pursuant to the laws of another state, province, or country or pursuant to the retaliatory provisions of Code Section 33-3-26 shall consist of those assets as are required or permitted by law or as are required pursuant to a retaliatory provision.#

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. 124, §§ 12, 13; Civil Code 1895, §§ 2060, 2061; Ga. L. 1900, p. 47, § 1; Ga. L. 1901, p. 33, § 1; Ga. L. 1905, p. 77, § 1; Civil Code 1910, §§ 2449, 2450; Ga. L. 1912, p. 119, §§ 14, 27, 39; Ga. L. 1924, p. 121, § 1; Code 1933, §§ 56-311, 56-312, 56-315, 56-320, 56-321, 56-322; Code 1933, § 56-1103, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1974, p. 464, § 4; Ga. L. 1975, p. 1232, § 2; Ga. L. 1983, p. 3, § 24.

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 585 to 586; merge action: carried; file SHA-256 4ecec175d949.