An insurer may deposit eligible securities in an amount exceeding its deposit required or otherwise permitted under this title by not more than $100,000.00 for the purpose of absorbing fluctuations in the value of securities held in its deposit and to facilitate the exchange and substitution of securities deposited. During the solvency of the insurer any excess deposit or part thereof shall be released to the insurer upon its request, subject to Code Section 33-12-9. During the insolvency of the insurer the excess deposit shall be released only as provided in Code Section 33-12-8.
History. Ga. L. 1899, p. 54, § 1; Civil Code 1910, § 2560; Code 1933, § 56-1110; Code 1933, § 56-1106, enacted by Ga. L. 1960, p. 289, § 1.
Structure Georgia Code
Chapter 12 - Administration of Deposits
§ 33-12-2. Purposes for Which Deposits to Be Held
§ 33-12-3. Assets Deemed Eligible for Deposit
§ 33-12-5. Rights of Insurers as to Recovery, Exchange, and Inspection of Deposits Generally
§ 33-12-6. Deposit of Securities in Amounts Exceeding Required or Permitted Deposit
§ 33-12-7. Procedure Upon Occurrence of Deficiencies in Deposits of Insurers Generally
§ 33-12-8. Release of Deposits Generally
§ 33-12-10. Levy Upon Deposits by Claimants
§ 33-12-12. Proceedings Upon Appointment of Receiver Generally
§ 33-12-13. Proceedings Upon Appointment of Receivers for Satisfaction of Multiple Claims