---
title: O.C.G.A. § 34-9-161. Securities deposit; excess loss funding program.
collection: code
id: 34-9-161
cite_as: O.C.G.A. § 34-9-161 (2025)
canonical_url: https://georgiacommons.org/code/34-9-161
md_url: https://georgiacommons.org/code/34-9-161.md
text_url: https://georgiacommons.org/code/34-9-161/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t34-(v26)-2017-pdf.pdf?sfvrsn=ba91129b_0#page=763
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: LABOR AND INDUSTRIAL RELATIONS / WORKERS’ COMPENSATION / GROUP SELF-INSURANCE FUNDS
---

# O.C.G.A. § 34-9-161. Securities deposit; excess loss funding program.

(a)(1) Each fund shall maintain a deposit consisting of securities eligible for deposit by domestic insurance companies in accordance with Chapter 12 of Title 33 in the amount of $200,000.00, which amount equates to the deposits required of a domestic insurance company pursuant to Code Section 33-3-8.

(2) A fund may post a surety bond or bonds in the amount of $250,000.00 to satisfy the securities deposit requirement of paragraph (1) of this subsection. Such bond or bonds shall be acceptable only if issued by an insurer whose form has been approved by the Commissioner.

(3) The security deposit required by this subsection shall be allowed as an asset and shall not be deemed as part of the surplus required by Code Section 34-9-162.

(b) The excess loss funding program of a fund shall be approved by the Commissioner as a condition to the issuance and maintenance of a certificate of authority of any fund created pursuant to this article. An excess loss funding program may consist of excess insurance, self-funding from unobligated surplus of an agency, any combination of the foregoing, or any other funding program acceptable to the Commissioner. A fund may be permitted to purchase excess insurance:

(1) From insurers authorized to transact business in this state; or

(2) From approved surplus lines carriers.

## History

Code 1933, § 114-612a, enacted by Ga. L. 1980, p. 1686, § 1; Ga. L. 1981, p. 1759, § 1; Ga. L. 1982, p. 3, § 34; Ga. L. 1987, p. 1397, § 2; Ga. L. 1989, p. 1075, § 1; Ga. L. 1990, p. 997, § 1; Ga. L. 1995, p. 1201, § 10.

## Law Reviews

For article surveying developments in Georgia workers’ compensation law from mid-1980 through mid-1981, see 33 Mercer L. Rev. 323 (1981).