Georgia Code
Chapter 17 - Reciprocal Insurers
§ 33-17-27. Distribution of Unused Premiums, Savings, Credits, or Profits to Subscribers

A reciprocal insurer may from time to time return to its subscribers any unused premiums, savings, credits, or profits accruing to their accounts. Any such distribution shall not unfairly discriminate between classes of risks or policies or between subscribers, but the distribution may vary as to classes of subscribers based upon the experience of the subscribers. In no event shall there be any distribution whatsoever by a domestic reciprocal insurer while notes or advances to the minimum surplus required by Code Section 33-17-17 are outstanding, unless the Commissioner shall first approve the distribution.
History. Code 1933, § 56-2127, enacted by Ga. L. 1960, p. 289, § 1.

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Structure Georgia Code

Georgia Code

Title 33 - Insurance

Chapter 17 - Reciprocal Insurers

§ 33-17-1. Definitions

§ 33-17-2. Applicability of Chapter

§ 33-17-3. Authorization of Transaction of Insurance by Reciprocal Insurers Generally

§ 33-17-4. Types of Insurance in Which Reciprocal Insurers Authorized to Transact Business; Reinsurance

§ 33-17-5. Requirements as to Name; Actions by and Against Insurers

§ 33-17-6. Procedure for Incorporation of Domestic Reciprocal Insurer Generally; Application for Certificate of Authority; Execution and Filing by Attorney of Declaration; Contents of Declaration

§ 33-17-7. Issuance of Certificate of Authority; Refusal, Suspension, or Revocation of Certificate of Authority; Renewal of Certificate; Payment of Fees and Taxes

§ 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

§ 33-17-11. Rights and Powers of Attorney for Insurer Generally; Contents and Terms of Power of Attorney; Furnishing of Copy of Power of Attorney to Subscribers

§ 33-17-12. Effect of Discharge of Duties by Attorney of Foreign or Alien Insurer; Office of Attorney

§ 33-17-13. Designation by Insurer of Person to Acknowledge or Accept Service of Process; Manner of Service of Process; Effect of Judgment Based Upon Process Served in Manner Prescribed

§ 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

§ 33-17-17. Advancement of Sums to Insurer by Attorney or Other Parties; Withdrawal or Repayment of Advances

§ 33-17-18. Persons and Organizations Authorized to Become Subscribers; Exchange of Insurance Contracts; Personal Liability Upon Contracts

§ 33-17-19. Liability of Subscribers for Obligations of Insurer Generally; Contingent Liability Assessment

§ 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

§ 33-17-26. Authorization and Procedure for Issuance by Commissioner of Certificate Authorizing Insurer to Extinguish Contingent Liability of Subscribers; Revocation of Certificate

§ 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

§ 33-17-30. Merger of Reciprocal Insurers; Conversion of Reciprocal Insurers to Stock or Mutual Insurers

§ 33-17-31. Exchange of Contracts or Indemnities by Attorneys