Skip to content
Georgia Commons
Menu

Official Code of Georgia Annotated

Title 33. INSURANCE · Chapter 16. FARMERS’ MUTUAL FIRE INSURANCE COMPANIES

33-16-7. Power of board to borrow money and pledge assets of company.

Active

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

  1. The board of directors of a farmers’ mutual fire insurance company may, at any time, borrow such sum or sums of money as they may deem necessary to pay its losses, accrued or unaccrued, and may pledge the assets of the company including the contingent liability of policyholders for the losses as security for the loan.

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

Code 1933, § 56-2014, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 2012, p. 1040, § 1/SB 203.

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 759 to 760; merge action: carried; file SHA-256 4ecec175d949.