§ 33-12-6 - Deposit of securities in amounts exceeding required or permitted deposit - Georgia Statutes

State Codes and Statutes

Statutes > Georgia > Title-33 > Chapter-12 > 33-12-6

O.C.G.A. 33-12-6 (2010)
33-12-6. Deposit of securities in amounts exceeding required or permitted deposit

An insurer may deposit eligible securities in an amount exceeding its deposit required or otherwise permitted under this title by not more than $100,000.00 for the purpose of absorbing fluctuations in the value of securities held in its deposit and to facilitate the exchange and substitution of securities deposited. During the solvency of the insurer any excess deposit or part thereof shall be released to the insurer upon its request, subject to Code Section 33-12-9. During the insolvency of the insurer the excess deposit shall be released only as provided in Code Section 33-12-8.

State Codes and Statutes

Statutes > Georgia > Title-33 > Chapter-12 > 33-12-6

O.C.G.A. 33-12-6 (2010)
33-12-6. Deposit of securities in amounts exceeding required or permitted deposit

An insurer may deposit eligible securities in an amount exceeding its deposit required or otherwise permitted under this title by not more than $100,000.00 for the purpose of absorbing fluctuations in the value of securities held in its deposit and to facilitate the exchange and substitution of securities deposited. During the solvency of the insurer any excess deposit or part thereof shall be released to the insurer upon its request, subject to Code Section 33-12-9. During the insolvency of the insurer the excess deposit shall be released only as provided in Code Section 33-12-8.

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > Georgia > Title-33 > Chapter-12 > 33-12-6

O.C.G.A. 33-12-6 (2010)
33-12-6. Deposit of securities in amounts exceeding required or permitted deposit

An insurer may deposit eligible securities in an amount exceeding its deposit required or otherwise permitted under this title by not more than $100,000.00 for the purpose of absorbing fluctuations in the value of securities held in its deposit and to facilitate the exchange and substitution of securities deposited. During the solvency of the insurer any excess deposit or part thereof shall be released to the insurer upon its request, subject to Code Section 33-12-9. During the insolvency of the insurer the excess deposit shall be released only as provided in Code Section 33-12-8.