O.C.G.A.
O.C.G.A.

O.C.G.A. § 33-10-11 (2019)

Requirement of special reserve for certain bonds

✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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In lieu of the unearned premium reserve required on surety insurance under subsection (a) of Code Section 33-10-6, the Commissioner may require any surety insurer or limited surety insurer to set up and maintain a reserve on all bail bonds or other single premium bonds without definite expiration data, furnished in judicial proceedings, equal to 25 percent of the total consideration charged for any bonds as are outstanding as of the date of any then current financial statement of the insurer.

History

Code 1933, § 56-917, enacted by Ga. L. 1973, p. 499, § 2; Ga. L. 2019, p. 337, § 1-59/SB 132.

The 2019 amendment, effective July 1, 2019, inserted ‘‘then’’ near the end of this Code section.

Annotations

The 2019 amendment, effective July 1, 2019, inserted "then" near the end of this Code section.