The attorney or other parties may advance to a domestic reciprocal insurer upon reasonable terms any funds as it may require from time to time in its operations. Sums so advanced shall not be treated as a liability of the insurer and, except upon liquidation of the insurer, shall not be withdrawn or repaid except out of the insurer’s realized earned surplus in excess of its minimum required surplus. No withdrawal or repayment shall be made without the advance approval of the Commissioner.
History. Code 1933, § 56-2116, 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