Mortgages on real property referred to in subsection (a) of Code Section 33-10-16 shall be valued in an amount not exceeding the acquisition cost of the real property covered thereby or 90 percent of the fair value of the real property, whichever is less.
History. Code 1933, § 56-916, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 2019, p. 337, § 1-61/SB 132.
The 2019 amendment, effective July 1, 2019, substituted “Mortgages on real property” for “Purchase money mortgages on real property” at the beginning of this Code section.
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