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O.C.G.A. § 33-24-43 — Payment of claims under policies - Medium of payment | Georgia Code
O.C.G.A. § 33-24-43 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 33 INSURANCE

Section 24. Insurance Generally, 33-24-1 through 33-24-98.

ARTICLE 1 GENERAL PROVISIONS

33-24-43. Payment of claims under policies - Medium of payment.

It shall be unlawful for any insurer to provide in a policy or contract of insurance that the face amount thereof or any loss or indemnity which may accrue thereunder shall be payable in anything other than legal tender of the United States to the beneficiary named in the policy or contract of insurance or to the legal representative of the insured; and any provision to the contrary shall be null and void, provided that this Code section shall not prevent property insurance policies from including an option to the insurer authorizing it to repair the damage incurred or paying the debtor the dollar amount thereof.

(Code 1933, § 56-9901, enacted by Ga. L. 1960, p. 289, § 1.)

JUDICIAL DECISIONS

Cited in Sollek v. Laseter, 126 Ga. App. 137, 190 S.E.2d 148 (1972).

OPINIONS OF THE ATTORNEY GENERAL

Contract with cemetery company providing for free burial spaces unlawful.

- When a private company engaged in the business of maintaining a cemetery and selling cemetery lots gives to each purchaser a supplemental written agreement to the effect that if any one or more of the purchaser's unmarried children between the ages of one and 19 die, then the cemetery company will furnish without cost such space or spaces for interment of the deceased child or children, provided that at that time no installment payments on the lot purchase agreement are in arrears, the contract is a contract of insurance, and such a contract may not be lawfully made by a concern which is not licensed to engage in the life insurance business, in view of this section. 1963-65 Op. Att'y Gen. p. 367.

Licensed or unlicensed insurance company or agent may not sell policies which designate the person to conduct the funeral of the insured, restrict the right to purchase funeral services in the open market, or provide for payment in funeral services, merchandise, or other than legal tender of the United States. 1945-47 Op. Att'y Gen. p. 366.

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This Georgia Code resource is curated by an Orange Park personal injury and workers' comp lawyer, 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.