In any determination of the financial condition of an insurer, there shall be allowed as assets only such assets as are owned by the insurer and which consist of:
History. Code 1933, § 56-901, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1980, p. 1108, § 2; Ga. L. 1995, p. 481, § 1; Ga. L. 1996, p. 6, § 33; Ga. L. 2008, p. 469, § 1/SB 347; Ga. L. 2013, p. 690, § 21/SB 185; Ga. L. 2019, p. 869, § 1/HB 277.
The 2019 amendment, effective July 1, 2019, inserted “a” preceding “trust company” in paragraph (1); in paragraph (3), deleted “, as such term is defined in Code Section 11-9-102,” following “software” near the middle and substituted “$7.5 million” for “$7,500,000.00”; added paragraph (4); redesignated former paragraphs (4) through (13) as present paragraphs (5) through (14), respectively; and substituted “the Commissioner” for “him” at the end of paragraph (12).
Law reviews.
For article, “Why Captives, Lord, What Have They Ever Done?: The Georgia Captive Insurance Company Act,” see 26 Ga. St. B. J. 119 (1990).
Structure Georgia Code
Chapter 10 - Assets and Liabilities
§ 33-10-1. Assets Considered in Determining Financial Condition of Insurers Generally
§ 33-10-3. Deduction of Assets From Liabilities and Liabilities From Assets Generally
§ 33-10-5. Capital Stock and Liabilities Charged Against Assets
§ 33-10-7. Marine Insurance, Required Reserves
§ 33-10-8. Accident and Sickness Insurance, Required Reserves
§ 33-10-10. Title Insurance, Required Reserves
§ 33-10-11. Requirement of Special Reserve for Certain Bonds
§ 33-10-12. Requirement by Commissioner of Increase in Loss Reserves
§ 33-10-13. Standard Valuation
§ 33-10-14. Valuation of Investments
§ 33-10-16. Valuation of Real and Personal Property Reserves