36-85-11. Fidelity bond and errors and omissions insurance; administrators to maintain office in state.

Active

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

(a)
The Commissioner shall require each administrator to have and maintain a fidelity bond in an amount which the Commissioner deems appropriate but which is not less than $100,000.00.#
(b)
Errors and omissions coverage or other appropriate liability insurance in an amount which is not less than that specified by the rules and regulations of the Commissioner shall be maintained at all times by an administrator of a fund; and a certificate by the insurer or other appropriate evidence of such coverage shall be filed with the Commissioner by the fund.#
(c)
Each administrator shall maintain an office in this state for the payment, processing, and adjustment of the claims of the fund or funds which it represents.#

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 1981, § 36-85-11, enacted by Ga. L. 1986, p. 1496, § 1.

Read the official page (the state's PDF, opened at the page this text was read from).

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

Text read from t36-ch60-92-(v27a)-2025-pdf.pdf, Volume V27A, 2025 edition, page 588; merge action: bound only; file SHA-256 5150ee8c60f7.

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