Georgia Code
Article 3 - Domestic Mutual Insurers
§ 33-14-63. Filing of Surety Bond or Deposit by Incorporators of Proposed Insurer; Conditions of Bond or Deposit; Release and Discharge

All of the conditions shall become due and payable only in the event the corporation fails to complete its organization and secure a certificate of authority within two years from and after the date of the certificate of incorporation.
History. Code 1933, § 56-1511, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 2019, p. 337, § 1-71/SB 132.
The 2019 amendment, effective July 1, 2019, substituted “corporation” for “corporations” at the end of paragraph (a)(3).

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Structure Georgia Code

Georgia Code

Title 33 - Insurance

Chapter 14 - Domestic Stock and Mutual Insurers

Article 3 - Domestic Mutual Insurers

§ 33-14-60. Bylaws

§ 33-14-61. Types of Insurance in Which Newly Organized Insurers Authorized to Transact Business; Requirements as to Transaction of Particular Kinds of Insurance Generally

§ 33-14-62. Authorization of Transaction of Additional Kinds of Insurance

§ 33-14-63. Filing of Surety Bond or Deposit by Incorporators of Proposed Insurer; Conditions of Bond or Deposit; Release and Discharge

§ 33-14-64. Solicitation of Applications for Policies Upon Approval of Bond or Deposit; Provisions and Execution of Applications; Requirement of Cash Premiums

§ 33-14-65. Deposit of Premiums and Fees Collected; Issuance and Delivery of Policies by Insurers; Effective Date of Insurance

§ 33-14-66. Return of Deposits or Premiums Upon Failure of Proposed Insurer to Complete Organization and Secure Original Certificate of Authority

§ 33-14-67. Policyholders Deemed Members of Insurers; Persons Entitled to Become Members; Liability Upon Insurance Contracts of Representatives of Members; Rights of Members Generally

§ 33-14-68. Contingent Liability of Members

§ 33-14-69. Levy of Assessment by Directors; Computation of Assessment; Allowance of Offsets Against Assessments

§ 33-14-70. Notice of Assessment; Presumption as to Correctness of Assessment; Proceedings Upon Failure of Member to Pay Assessment

§ 33-14-71. Extinguishment of Contingent Liability; Revocation of Authority to Issue Policies Without Contingent Liability; Issuance of Nonassessable Policies by Foreign or Alien Insurers

§ 33-14-72. Reinsurance of Risks

§ 33-14-73. Dividends Payable Only Out of Net Realized Savings and Earnings

§ 33-14-74. Liability of Directors for Declaration or Payment of Illegal Dividend

§ 33-14-75. Procedure for Merger or Consolidation

§ 33-14-76. Authorization and Procedure for Conversion of Mutual Insurer to Stock Insurer

§ 33-14-77. Distribution of Assets to Members Upon Liquidation of Insurers Generally; Calculation of Distributive Shares of Members