O.C.G.A.

O.C.G.A. § 33-12-17 (2019)

Withdrawal of deposit

✓ 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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When any depositing company shall desire to withdraw any deposit made with the Commissioner as provided by Code Section 33-12-1, and the Commissioner shall find that the deposit is no longer required, in whole or in part, in order to comply with the laws of this or any other state, he may to that extent release the deposit, and his certificate to that effect shall authorize the state to return the deposit so released to the depositing company. A certificate from the Commissioner or other official authorized to administer the insurance laws of any other state or states showing that the depositing company has fully satisfied or made provision for the full payment and satisfaction of all policy obligations in the other state or states or that such policy obligations in such other state or states have been otherwise adequately provided for shall be sufficient evidence that the deposit is no longer required by the laws of such other state or states; provided, however, that any notice of loss theretofore given in conformity with this law shall remain effective, and the Commissioner shall nevertheless retain securities in an amount sufficient to meet the requirements of Code Sections 33-12-11 and 33-12-12.

History

Ga. L. 1896, p. 58, § 3; Civil Code 1910, § 2561; Ga. L. 1916, p. 129, § 1; Code 1933, §§ 56-1111, 56-1112; Code

1933, § 56-1117, enacted by Ga. L. 1960, p. 289, § 1.

CHAPTER 13 INSURANCE HOLDING COMPANY SYSTEMS Article 1

Sec.

General Provisions Sec.

Definitions. Acquisition or organization of subsidiaries by domestic insurers; conduct of business by subsidiaries; investment by insurers in securities of subsidiaries.

Annotations

Administrative Rules and Regulations. - Insurance Holding Company Regulation, Official Compilation of the Rules and Regulations of the State of Georgia, Rules of Comptroller General Office of Commissioner of Insurance, Chapter 120-2-23.

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ARTICLE 1 GENERAL PROVISIONS

Editor's notes. - Ga. L. 2015, p. 608, § 1/SB 108, designated §§ 33-13-1 through 33-13-15 as Article 1.