---
title: O.C.G.A. § 33-14-69. Levy of assessment by directors; computation of assessment; allowance of offsets against assessments.
collection: code
id: 33-14-69
cite_as: O.C.G.A. § 33-14-69 (2025)
canonical_url: https://georgiacommons.org/code/33-14-69
md_url: https://georgiacommons.org/code/33-14-69.md
text_url: https://georgiacommons.org/code/33-14-69/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=694
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.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: INSURANCE / DOMESTIC STOCK AND MUTUAL INSURERS / DOMESTIC MUTUAL INSURERS
---

# O.C.G.A. § 33-14-69. Levy of assessment by directors; computation of assessment; allowance of offsets against assessments.

(a) If at any time the assets of a domestic mutual insurer are less than its liabilities and the minimum amount of surplus required of it by this title for authority to transact the kinds of insurance being transacted and the deficiency is not cured from other sources, its directors shall levy an assessment only upon its members who at any time within the 12 months immediately preceding the date notice of the assessment was mailed to them held policies providing for contingent liability; and the members shall be liable to the insurer for the amount so assessed.

(b) The assessment shall be for the amount necessary to cure the deficiency and to provide a reasonable amount of working funds above the minimum amount of surplus; but the working funds so provided shall not exceed 5 percent of the insurer’s liabilities as of the date as of which the amount of the deficiency was determined.

(c) In levying an assessment on policies providing for contingent liability, the assessment shall be computed on a basis of premium earned on the policy.

(d) No member shall have an offset against any assessment for which he is liable on account of any claim for unearned premium or loss payable.

## History

Code 1933, § 56-1528, enacted by Ga. L. 1960, p. 289, § 1.