---
title: O.C.G.A. § 33-14-74. Liability of directors for declaration or payment of illegal dividend.
collection: code
id: 33-14-74
cite_as: O.C.G.A. § 33-14-74 (2025)
canonical_url: https://georgiacommons.org/code/33-14-74
md_url: https://georgiacommons.org/code/33-14-74.md
text_url: https://georgiacommons.org/code/33-14-74/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=696
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/33-14.md
previous: https://georgiacommons.org/code/33-14-73.md
next: https://georgiacommons.org/code/33-14-75.md
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 / DOMESTIC STOCK AND MUTUAL INSURERS / DOMESTIC MUTUAL INSURERS
extraction_warnings:
  - dehyphenation_unverified:concur-ring
---

# O.C.G.A. § 33-14-74. Liability of directors for declaration or payment of illegal dividend.

Any director of a domestic mutual insurer who willfully and with knowledge votes for or concurs in a declaration or payment of a dividend which reduces surplus below the minimum required surplus shall be guilty of a misdemeanor and shall be jointly and severally liable, together with other such directors likewise voting for or concurring in willfully and with knowledge, for any loss thereby sustained by the insurer.

## History

Code 1933, § 56-1526, enacted by Ga. L. 1960, p. 289, § 1.

## Cross References

Punishment for misdemeanors generally, § 17-10-3.