Action on the attorney’s bond or to recover against a deposit made in lieu of the bond may be brought at any time by one or more subscribers suffering loss through a violation of its conditions or by the Commissioner as liquidator of the insurer. Amounts recovered on the bond shall be deposited in and become part of the insurer’s funds. The total aggregate liability of the surety shall be limited to the amount of the penalty of the bond.
History. Code 1933, § 56-2114, enacted by Ga. L. 1960, p. 289, § 1.
Structure Georgia Code
Chapter 17 - Reciprocal Insurers
§ 33-17-2. Applicability of Chapter
§ 33-17-3. Authorization of Transaction of Insurance by Reciprocal Insurers Generally
§ 33-17-5. Requirements as to Name; Actions by and Against Insurers
§ 33-17-8. Filing of Bond by Attorney for Insurer; Amount of Bond; Cancellation of Bond
§ 33-17-9. Maintenance by Attorney of Deposit in Lieu of Bond
§ 33-17-10. Actions on Attorney’s Bond or Deposit
§ 33-17-14. Subscribers’ Advisory Committee
§ 33-17-15. Modifications of Terms of Subscribers’ Agreement or of Power of Attorney
§ 33-17-16. General Requirements for Transaction of Insurance by Domestic Reciprocal Insurers
§ 33-17-20. Enforcement Against Subscriber of Judgment Against Insurer
§ 33-17-21. Standards for Determination by Commissioner of Financial Condition of Insurer
§ 33-17-22. Manner of Levy of Assessments Against Subscribers Generally; Computation of Assessments
§ 33-17-23. Limitation Period for Assessments
§ 33-17-24. Maximum Assessable Aggregate Contingent Liability
§ 33-17-25. Insufficient Assets to Discharge Liabilities and to Maintain Required Surplus
§ 33-17-27. Distribution of Unused Premiums, Savings, Credits, or Profits to Subscribers
§ 33-17-28. Distribution of Assets to Subscribers Upon Liquidation of Insurer
§ 33-17-29. Filing of Annual Statement With Commissioner
§ 33-17-31. Exchange of Contracts or Indemnities by Attorneys