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O.C.G.A. § 33-11-32 — Acquisition or holding of real property - Limitation on investments pursuant to Code Sections 33-11-30 and 33-11-31 | Georgia Code

O.C.G.A. § 33-11-32 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 33 INSURANCE

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

ARTICLE 1 INVESTMENTS OF CERTAIN INSURERS

33-11-32. Acquisition or holding of real property - Limitation on investments pursuant to Code Sections 33-11-30 and 33-11-31.

No investment in real property shall be made by any insurer pursuant to Code Section 33-11-30 or 33-11-31 which will cause the insurer's investment in all real property owned or held by it directly or indirectly to exceed 25 percent of its admitted assets.

(Code 1933, § 56-1031, 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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This Georgia Code resource is curated by Graham W. Syfert, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. Attorney Syfert regularly works with Title 33 in the context of Georgia insurance coverage law and represents clients throughout Northeast Florida and South Georgia. For legal consultation, call 904-383-7448.