Official Code of Georgia Annotated

Title 33. INSURANCE · Chapter 24. INSURANCE GENERALLY · Article 1. GENERAL PROVISIONS

33-24-43. Medium of payment.

Active

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

It shall be unlawful for any insurer to provide in a policy or contract of insurance that the face amount thereof or any loss or indemnity which may accrue thereunder shall be payable in anything other than legal tender of the United States to the beneficiary named in the policy or contract of insurance or to the legal representative of the insured; and any provision to the contrary shall be null and void, provided that this Code section shall not prevent property insurance policies from including an option to the insurer authorizing it to repair the damage incurred or paying the debtor the dollar amount thereof.

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, § 56-9901, enacted by Ga. L. 1960, p. 289, § 1.

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

Text read from t33-ch23-65-(v25)-2020-pdf.pdf, Volume V25, 2020 edition, page 261; merge action: carried; file SHA-256 1cdfeaa4b73e.

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