O.C.G.A. § 33-14-61 (2019)

(a) When newly organized, a domestic mutual insurer may be authorized to transact any one of the kinds of insurance listed in the schedule contained in subsection (b) of this Code section and as limited in Code Section 33-3-5.

(b) When applying for an original certificate of authority, the insurer must be otherwise qualified therefor under this title, and must have received and accepted bona fide applications as to substantial insurable subjects for insurance coverage of a substantial character of the kind of insurance proposed to be transacted, must have collected in cash and full premium therefor at rates meeting the requirements of Chapter 9 of this title, if a property and casualty company must have surplus funds on hand as of the date the insurance coverages are to become effective, or, in lieu of such applications, premiums, and surplus, may deposit surplus, all in accordance with that part of the following schedule which applies to the kind of insurance the insurer proposes to transact:

(A)

(B)

(C)

(D)

(E)

(F)

(G)

(H)

Kind of Min. No. of Insurance Applicants Min. No. of Minimum Min. Amt.

Max. Amt. Ins.

Minimum Surplus Deposit of Subjects Premiums Ins. Each Each Subject Funds Accepted Surplus Covered Coll.

Subject

(V)

(VI)

(VI)

(I) Life ................

500 Ann.

$1,000 $ 2,500 $3 million $3 million

(II) Accident & Sickness ........

500 Quar. (Weekly (Weekly Indem.) Indem.)

3 million 3 million

(III) Property ........

250 Ann.

1,000

3,000 3 million 3 million

(IV) Casualty .......

500 Ann.

1,000

10,000 3 million 3 million Casualty with Workers’ Compensation .......

1,500 Quar.

1,000Statutory 3 million 3 million

(c) The provisos listed in this subsection are respectively applicable to the schedule and provisions set out in subsection (b) of this Code section as indicated by like Roman numerals which appear in such schedule:

(I) All applicants must be bona fide residents of this state; and no group insurance or term policies for terms of less than 20 years shall be included;

(II) All applicants must be bona fide residents of this state. No group or blanket plans of insurance shall be included. In lieu of weekly indemnity a like premium value in medical, surgical, and hospital benefits may be provided;

(III) Only insurance of the owner’s interest in real property situated in this state may be included;

(IV) The policy must include insurance of legal liability for bodily injury and property damage to which the maximum and minimum insured amounts apply. All applicants must be bona fide residents of this state;

(V) The maximums provided for in column (F) are net after deducting applicable reinsurance; and

(VI) The deposit of surplus in the amount specified in columns (G) and (H) must thereafter be maintained unimpaired. The deposit is subject to Chapter 12 of this title.