Georgia Code
Article 4 - Insurance of Compensation Liability Generally
§ 34-9-129. Furnishing of Bond by Insurance Companies Doing Workers’ Compensation Business in State; Bringing of Actions Upon Bond; Posting of Security in Lieu of Bond

Every insurance company doing a workers’ compensation business in this state shall furnish a bond payable to the state in the sum of $50,000.00 with some surety company authorized to transact business in this state as surety, in such form as may be approved by the Commissioner of Insurance, conditioned for the payment of compensation losses on policies issued by such insurance company upon risks located in this state. An action may be brought upon said bond by the board for the use and benefit of any party or parties at interest. The annual license of such company shall not be issued or renewed until it has filed with the Commissioner of Insurance of this state the bond required by this Code section. In lieu of such bond a deposit of the same amount may be made with the Office of the State Treasurer in the form of other security satisfactory to the Commissioner of Insurance.
History. Ga. L. 1920, p. 167, § 70; Ga. L. 1933, p. 182, § 1; Code 1933, § 114-606; Ga. L. 1993, p. 1402, § 18; Ga. L. 2010, p. 863, § 2/SB 296.
Code Commission notes.
Pursuant to Code Section 28-9-5, in 1988, “Commissioner of Insurance” was substituted for “Insurance Commissioner” throughout the Code section.

Structure Georgia Code

Georgia Code

Title 34 - Labor and Industrial Relations

Chapter 9 - Workers’ Compensation

Article 4 - Insurance of Compensation Liability Generally

§ 34-9-120. Employer’s Duty to Insure Payment of Compensation

§ 34-9-121. Duty of Employer to Insure in Licensed Company or Association or to Deposit Security, Indemnity, or Bond as Self-Insurer; Application to Out-of-State Employers; Membership in Mutual Insurance Company

§ 34-9-122. Type of Insurance Policy to Be Issued; Promulgation of Rules and Regulations When Accident Prevention and Safety Engineering Are Questioned

§ 34-9-122.1. Workers’ Compensation Health Benefits Pilot Projects

§ 34-9-123. Policy Provisions Regarding Effect of Notice or Knowledge by Insured Employer as to Occurrence of Injury

§ 34-9-124. Policy or Contract of Insurance to Contain Agreement of Insurer to Pay Compensation; Payment of Compensation When Employer or Employee Exempt From Provisions of Chapter

§ 34-9-124.1. Optional Deductibles to Be Offered by Insurers

§ 34-9-124.2. Restrictions on Requirements Requiring Recipients of Benefits to Utilize Out-of-State Mail Order Pharmacy Services

§ 34-9-125. Insurance Policies Subject to Chapter; Approval of Policy or Contract Forms by Board; Exceptions

§ 34-9-126. Filing by Employer of Evidence of Compliance With Insurance Requirements; Assessment of Attorney’s Fees and Increased Compensation Against Employer Who Fails to File

§ 34-9-127. Issuance by Board of Certificate of Self-Insurance; Review; Revocation

§ 34-9-128. Inspection of Place of Employment and Injury Records; Penalty for Noncompliance

§ 34-9-129. Furnishing of Bond by Insurance Companies Doing Workers’ Compensation Business in State; Bringing of Actions Upon Bond; Posting of Security in Lieu of Bond

§ 34-9-130. Authority of Commissioner of Insurance to Investigate Rates; Assistance by Board in Investigations

§ 34-9-130.1. Policies or Contracts of Insurance Against Liability for Compensation Under This Chapter

§ 34-9-131. Insurer Permit Requirement; Claim Office Within State

§ 34-9-132. Grounds for Revocation of Insurance Carrier’s Permit

§ 34-9-133. Apportionment and Assignment of Rejected Risks; Workers’ Compensation Assigned Risk Insurance Plan; Merit Rating Plan

§ 34-9-134. Appeals From Decisions Under Code Sections 34-9-122 and 34-9-131 Through 34-9-133

§ 34-9-136. Statistical Data Submitted by Insurance Company to Rating Organization; Verification by Employer; Issuance of Experience Modification Worksheets to Insured

§ 34-9-137. Considerations in Employer’s Experience Modification Factor

§ 34-9-138. Consideration of Employer’s Experience While Self-Insured