---
title: O.C.G.A. § 34-9-162. Maintenance of surplus and expendable surplus; waiver of surplus requirements; return of surplus to members of fund.
collection: code
id: 34-9-162
cite_as: O.C.G.A. § 34-9-162 (2025)
canonical_url: https://georgiacommons.org/code/34-9-162
md_url: https://georgiacommons.org/code/34-9-162.md
text_url: https://georgiacommons.org/code/34-9-162/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=764
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/34-9.md
previous: https://georgiacommons.org/code/34-9-161.md
next: https://georgiacommons.org/code/34-9-163.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: LABOR AND INDUSTRIAL RELATIONS / WORKERS’ COMPENSATION / GROUP SELF-INSURANCE FUNDS
---

# O.C.G.A. § 34-9-162. Maintenance of surplus and expendable surplus; waiver of surplus requirements; return of surplus to members of fund.

(a) A fund formed pursuant to this article shall possess and thereafter maintain a minimum surplus of not less than $200,000.00.

(b) Any fund established prior to July 1, 1995, which has satisfied the surplus requirement of this Code section by utilization of a surety bond shall replace such bond with cash or cash equivalent within 60 months of the date such bond was submitted to the Commissioner.

(c) Any fund established prior to July 1, 1995, which had received from the Commissioner a waiver of surplus pursuant to subsection (b) of this Code section as it existed prior to July 1, 1995, shall have until July 1, 1998, to replace such waiver with actual surplus and provide evidence of such surplus to the Commissioner.

(d) At the discretion of the board of the fund, any surplus exceeding the requirements of this Code section and the total of all other liabilities of the fund may be returned to the members of the fund. The board of the fund shall notify the Commissioner by letter within ten days following the return of any surplus.

## History

Code 1933, § 114-613a, enacted by Ga. L. 1980, p. 1686, § 1; Ga. L. 1981, p. 1759, § 1; Ga. L. 1982, p. 3, § 34; Ga. L. 1989, p. 1075, § 2; Ga. L. 1995, p. 1201, § 11.

## Law Reviews

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