Syfert Injury Law Firm
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Call Now: 904-383-7448Your Trusted Partner in Personal Injury & Workers' Compensation
Call Now: 904-383-7448Whenever any loss insured against shall occur, the insured or other person entitled to the proceeds of the policy, by judgment or otherwise, in order to secure his recovery, may give notice to the Commissioner of the occurrence of said loss and of the amount claimed, after which notice the Commissioner shall be bound to retain, subject to the order of a court of competent jurisdiction trying any action that may be brought for the recovery of the loss or any action which may be brought upon any judgment obtained in the courts of another state or the courts of the United States on account of the loss, a sufficient amount to pay the judgment in said case in event of recovery; and, if the amount for which the depositing insurer is liable shall not be paid within 30 days, said plaintiff may file an application with the judge of the superior court of the county where the case was tried for appointment of the Commissioner as receiver to take charge of as many securities as shall be necessary to satisfy the aforesaid judgment.
(Ga. L. 1887, p. 113, § 4; Civil Code 1895, § 2036; Ga. L. 1896, p. 58, § 3; Civil Code 1910, §§ 2420, 2559; Code 1933, §§ 56-302, 56-1109; Code 1933, § 56-1111, enacted by Ga. L. 1960, p. 289, § 1.)
- An action brought in a local court is a condition precedent to the appropriation of the bonds deposited by a foreign insurance corporation to the payment of a fire loss. Manufacturing Lumbermen's Underwriters v. South Ga. Ry., 57 Ga. App. 699, 196 S.E. 244 (1938).
- Where one plaintiff had no judgment against an indemnity insurance association doing business in this state, but claimed merely that a judgment had been rendered against the plaintiff for a stated sum and that, although the plaintiff held a policy of insurance issued by the defendant covering such liability, the defendant would not and could not, because of its insolvency, pay the judgment after demand therefor was made, and the other plaintiff had only a judgment against the defendant for legal services rendered, which for a like reason had not been paid, neither of the plaintiffs was entitled to appointment of a receiver for the defendant, or to a court order requiring all persons claiming under and by reason of policies of indemnity issued by the defendant to intervene in the consolidated cases made by the two plaintiffs, or to an order enjoining all such claimants from prosecuting their claims in any other case or court in this state; accordingly, it was erroneous for the court to deny a motion to modify these restraining orders and permit two other individuals to prosecute their actions against the company which were about to be reached in city court. Carter v. Moyd, 188 Ga. 753, 4 S.E.2d 837 (1939).
Appointment of receiver under section is not suit in equity and does not involve extraordinary remedy. Albright v. American Cent. Ins. Co., 147 Ga. 492, 94 S.E. 561 (1917), later appeal, 21 Ga. App. 583, 94 S.E. 813 (1918).
- 43 Am. Jur. 2d, Insurance, § 107.
- 44 C.J.S., Insurance, § 195 et seq.
- Effect of failure to give notice, or delay in giving notice or filing of proofs of loss, upon fidelity bond or insurance, 23 A.L.R.2d 1065.
No results found for Georgia Code 33-12-11.