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2018 Georgia Code 33-11-31 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)

O.C.G.A. 33-11-31 Case Law from Google Scholar Amendments to OCGA 33-11-31

TITLE 33 INSURANCE

Section 11. Investments, 33-11-1 through 33-11-89.

ARTICLE 1 INVESTMENTS OF CERTAIN INSURERS

33-11-31. Acquisition or holding of real property - Acquisition and holding of real property for recreation, hospitalization, convalescence, and retirement of employees.

Subject to prior approval of the Commissioner, an insurer may acquire and hold real property for recreation, hospitalization, convalescence, and retirement purposes of its employees. All investments under this Code section shall not exceed 5 percent of the insurer's surplus; or, if a mutual or reciprocal insurer, all of those investments shall not exceed 5 percent of the insurer's surplus in excess of the surplus required to be maintained under this title for its authority to transact insurance.

(Code 1933, § 56-1030, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1999, p. 592, § 6.)

OPINIONS OF THE ATTORNEY GENERAL

Foreign insurer's investments not limited.

- The "quality" clause of former Code 1933, § 56-1036 (see now O.C.G.A. § 33-11-42(a)) does not limit a foreign insurer's investments to only those investments specifically permitted for domestic insurers under former Code 1933, §§ 56-1028 through 56-1031 (see now O.C.G.A. §§ 33-11-29 through33-11-32). 1970 Op. Att'y Gen. No. 70-180.

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