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O.C.G.A. § 33-14-73 — Dividends payable only out of net realized savings and earnings | Georgia Code
O.C.G.A. § 33-14-73 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 33 INSURANCE

Section 14. Domestic Stock and Mutual Insurers, 33-14-1 through 33-14-109.

ARTICLE 3 DOMESTIC MUTUAL INSURERS

33-14-73. Dividends payable only out of net realized savings and earnings.

  1. The directors of a domestic mutual insurer may from time to time apportion and pay or credit to its members dividends only out of that part of its surplus funds which represent net realized savings and net realized earnings from its business.
  2. A dividend otherwise proper may be payable out of the savings and earnings even though the insurer's total surplus is then less than the aggregate of its contributed surplus.

(Code 1933, § 56-1524, enacted by Ga. L. 1960, p. 289, § 1.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 43 Am. Jur. 2d, Insurance, § 79 et seq.

C.J.S.

- 44 C.J.S., Insurance, §§ 170, 181.

ALR.

- Apportionment of divisible surplus of insurance company between different policies, 108 A.L.R. 1212.

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This Georgia Code resource is curated by the attorney maintaining this site, 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.