reglab/housing_qa huggingface dataset:
GA Code § 33-10-10 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 10 - Assets and Liabilities|§ 33-10-10. Title Insurance, Required Reserves

 In addition to an adequate reserve as to outstanding losses as required under Code Section 33-10-5, a title insurer shall maintain a guaranty fund or unearned premium reserve of not less than an amount computed as follows:    Ten percent of the total amount of the risk premiums written in the calendar year for title insurance contracts shall be assigned originally to the reserve; and   During each of the 20 years next following the year in which the title insurance contract was issued, the reserve applicable to the contract may be reduced by 5 percent of the original amount of the reserve.    (Code 1933, § 56-911, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 2019, p. 337, § 1-58/SB 132.)    The 2019 amendment,  effective July 1, 2019, deleted "hereafter" following "risk premiums" in paragraph (1).   Cross references.   - Definition of title insurance, § 33-7-8.
GA Code § 33-10-11 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 10 - Assets and Liabilities|§ 33-10-11. Requirement of Special Reserve for Certain Bonds

 In lieu of the unearned premium reserve required on surety insurance under subsection (a) of Code Section 33-10-6, the Commissioner may require any surety insurer or limited surety insurer to set up and maintain a reserve on all bail bonds or other single premium bonds without definite expiration data, furnished in judicial proceedings, equal to 25 percent of the total consideration charged for any bonds as are outstanding as of the date of any then current financial statement of the insurer.   (Code 1933, § 56-917, enacted by Ga. L. 1973, p. 499, § 2; Ga. L. 2019, p. 337, § 1-59/SB 132.)    The 2019 amendment,  effective July 1, 2019, inserted "then" near the end of this Code section.
GA Code § 33-10-12 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 10 - Assets and Liabilities|§ 33-10-12. Requirement by Commissioner of Increase in Loss Reserves

 If the loss experience shows that an insurer's loss reserves, however estimated, are inadequate, the Commissioner shall require the insurer to maintain loss reserves of increased amounts as are needed to make them adequate. This Code section does not apply to life insurance.   (Code 1933, § 56-910, enacted by Ga. L. 1960, p. 289, § 1.)
GA Code § 33-10-14 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 10 - Assets and Liabilities|§ 33-10-14. Valuation of Investments

 The value or amount of investments, unless otherwise specified in this chapter, and excluding assets of separate accounts which are subject to Code Sections 33-11-65 through 33-11-67, shall be the value at which assets of an insurer are required to be reported for statutory accounting purposes as determined in accordance with procedures prescribed in published accounting and valuation standards of the National Association of Insurance Commissioners and adopted by regulation promulgated by the Commissioner or as otherwise prescribed by regulation promulgated by the Commissioner.   (Code 1933, § 56-913, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1992, p. 2877, § 7; Ga. L. 1999, p. 592, § 3.)
GA Code § 33-10-15 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 10 - Assets and Liabilities|§ 33-10-15. Valuation of Other Securities; Preferred or Guaranteed Stocks or Shares; Stock of Subsidiary Corporation

 Reserved. Repealed by Ga. L. 1999, p. 592, § 4, effective January 1, 2000.   Editor's notes.   - This Code section was based on Code 1933, § 56-914, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1992, p. 2877, § 8.
GA Code § 33-10-16 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 10 - Assets and Liabilities|§ 33-10-16. Valuation of Real and Personal Property Reserves

  Real property acquired under a mortgage loan or under a deed to secure debt or pursuant to a contract of sale, in the absence of a recent appraisal deemed by the Commissioner to be reliable, shall not be valued at an amount greater than the unpaid principal of the defaulted loan or contract at the date of such acquisition, together with any taxes and expenses paid or incurred in connection with such acquisition and the cost of improvements thereafter made by the insurer and any amounts thereafter paid by the insurer on assessments levied for improvements in connection with the property.   Other real property held by an insurer shall not be valued at an amount in excess of fair value as determined by recent appraisal. If valuation is based on an appraisal more than three years old, the Commissioner may at his discretion call for and require a new appraisal in order to determine fair value.   Personal property acquired under a chattel mortgage made in accordance with Code Section 33-11-26 shall not be valued at an amount greater than the unpaid balance of principal on the defaulted loan at the date of acquisition, together with taxes and expenses incurred in connection with the acquisition or the fair value of the property, whichever amount is the lesser.    (Code 1933, § 56-915, enacted by Ga. L. 1960, p. 289, § 1.)
GA Code § 33-10-17 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 10 - Assets and Liabilities|§ 33-10-17. Valuation of Mortgage Reserves

 Mortgages on real property referred to in subsection (a) of Code Section 33-10-16 shall be valued in an amount not exceeding the acquisition cost of the real property covered thereby or 90 percent of the fair value of the real property, whichever is less.   (Code 1933, § 56-916, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 2019, p. 337, § 1-61/SB 132.)    The 2019 amendment,  effective July 1, 2019, substituted "Mortgages on real property" for "Purchase money mortgages on real property" at the beginning of this Code section.
GA Code § 33-11A-1 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 11A - Investment Pools [Redesignated]|§ 33-11A-1. Through 33-11a-10

  Editor's notes.   - Ga. L. 1999, p. 592, § 15, effective January 1, 2000, redesignated the former provisions of this chapter, relating to investment pools and which became effective April 22, 1997, as Article 3 of Chapter 11 and redesignated Code Sections 33-11A-1 through 33-11A-10 as Code Sections 33-11-80 through 33-11-89, respectively.
GA Code § 33-12-1 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 12 - Administration of Deposits|§ 33-12-1. Persons With Whom Required Deposit to Be Made; Acceptance and Holding in Trust of Deposits Generally

  Deposits required or permitted by law to be made by domestic life insurers and all other insurers shall be made with the Commissioner or with some strong corporation approved by the Commissioner.   The Commissioner shall accept and hold in trust deposits of securities or funds by insurers as follows:   Deposits required for authority to transact insurance in this state;   Deposits of domestic, foreign, or alien insurers when made pursuant to the laws of other states, provinces, and countries as prerequisite for authority to transact insurance in such state, province, or country; or   Deposits in such additional amounts as are permitted to be made by Code Section 33-12-6.      (Ga. L. 1887, p. 113, §§ 4, 5; Civil Code 1895, §§ 2036, 2042; Civil Code 1910, §§ 2420, 2426; Ga. L. 1922, p. 122, § 2; Code 1933, §§ 56-302, 56-314, 56-316; Code 1933, § 56-1101, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1972, p. 1015, § 14; Ga. L. 1982, p. 3, § 33.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 43 Am. Jur. 2d, Insurance, § 37.
GA Code § 33-12-2 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 12 - Administration of Deposits|§ 33-12-2. Purposes for Which Deposits to Be Held

 Deposits shall be held as follows:    When the deposit is required for authority to transact insurance in this state, the deposit shall be held for the protection of all the insurer's policyholders or others entitled to the proceeds of policies within the United States, provided that this paragraph shall not apply to a deposit made under Code Section 33-3-9;   When the deposit is required pursuant to the laws of another state, commonwealth, territory, district of the United States, province, or country, the deposit shall be held for such purposes as are required by such laws and as specified by the Commissioner at the time the deposit is made; or   When the deposit is required pursuant to the retaliatory provision, Code Section 33-3-26, the deposit shall be held for purposes as specified in the Commissioner's order requiring the deposit.    (Ga. L. 1887, p. 113, § 12; Civil Code 1895, § 2060; Civil Code 1910, § 2449; Code 1933, § 56-315; Code 1933, § 56-1102, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1983, p. 3, § 24; Ga. L. 1984, p. 22, § 33.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 43 Am. Jur. 2d, Insurance, § 37.   C.J.S.   - 44 C.J.S., Insurance, § 77.
GA Code § 33-12-3 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 12 - Administration of Deposits|§ 33-12-3. Assets Deemed Eligible for Deposit

  All deposits required for authority to transact insurance in this state shall consist of any combination of the securities eligible for the investment of capital funds of domestic insurers as enumerated and described in paragraph (3) of Code Section 33-11-5, except real estate, notes secured by real estate, stocks, or investment trust or investment company shares.   All deposits required pursuant to the laws of another state, province, or country or pursuant to the retaliatory provisions of Code Section 33-3-26 shall consist of those assets as are required or permitted by law or as are required pursuant to a retaliatory provision.    (Ga. L. 1887, p. 124, §§ 12, 13; Civil Code 1895, §§ 2060, 2061; Ga. L. 1900, p. 47, § 1; Ga. L. 1901, p. 33, § 1; Ga. L. 1905, p. 77, § 1; Civil Code 1910, §§ 2449, 2450; Ga. L. 1912, p. 119, §§ 14, 27, 39; Ga. L. 1924, p. 121, § 1; Code 1933, §§ 56-311, 56-312, 56-315, 56-320, 56-321, 56-322; Code 1933, § 56-1103, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1974, p. 464, § 4; Ga. L. 1975, p. 1232, § 2; Ga. L. 1983, p. 3, § 24.)
GA Code § 33-12-4 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 12 - Administration of Deposits|§ 33-12-4. Designation of State Depositories; Responsibility for Safekeeping of Deposits; Acceptance of Book-Entry Securities as Securities

  The Commissioner may designate any regularly constituted state depository having trust powers domiciled in this state as a depository to receive and hold deposit. A deposit so held shall be at the expense of the insurer. A depository shall give to the Commissioner proper trust and safekeeping, receipt upon which the Commissioner shall give official receipt to the insurer.   The Commissioner shall be responsible for the safekeeping and return of all securities deposited pursuant to this title with the Commissioner or in any depository so designated.   The Commissioner may by rule or regulation prescribe the methods by which book-entry securities may be accepted as securities required or permitted by law.    (Code 1933, § 56-1104, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1993, p. 1721, § 2.)   Cross references.   - State depositories, § 50-17-50 et seq.
GA Code § 33-12-5 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 12 - Administration of Deposits|§ 33-12-5. Rights of Insurers as to Recovery, Exchange, and Inspection of Deposits Generally

 So long as the insurer remains solvent and complies with this title it may:    Demand, receive, institute an action for, and recover the income from the securities deposited;   Exchange and substitute for the deposited securities or any part thereof, with the approval of the Commissioner, eligible securities of equivalent or greater value; and   Inspect at reasonable times any deposit.    (Ga. L. 1887, p. 113, § 5; Civil Code 1895, § 2043; Ga. L. 1905, p. 76, § 1; Ga. L. 1906, p. 107, §§ 4, 5; Civil Code 1910, §§ 2427, 2431, 2432; Code 1933, §§ 56-309, 56-310, 56-317; Code 1933, § 56-1105, enacted by Ga. L. 1960, p. 289, § 1.)
GA Code § 33-12-6 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 12 - Administration of Deposits|§ 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.   (Ga. L. 1899, p. 54, § 1; Civil Code 1910, § 2560; Code 1933, § 56-1110; Code 1933, § 56-1106, enacted by Ga. L. 1960, p. 289, § 1.)
GA Code § 33-12-7 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 12 - Administration of Deposits|§ 33-12-7. Procedure Upon Occurrence of Deficiencies in Deposits of Insurers Generally

 If for any reason the market value of assets and securities of an insurer held on deposit in this state under this title falls below the amount so required, the insurer shall promptly deposit other or additional assets or securities eligible for deposit sufficient to cure the deficiency. If the insurer has failed to cure the deficiency within 30 days after receipt of notice to deposit other or additional assets or securities by registered or certified mail or statutory overnight delivery from the Commissioner, the Commissioner shall revoke the insurer's certificate of authority.   (Ga. L. 1887, p. 113, § 4; Civil Code 1895, § 2040; Civil Code 1910, § 2424; Code 1933, § 56-305; Code 1933, § 56-1107, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 2000, p. 1589, § 3.)   Editor's notes.   - Ga. L. 2000, p. 1589, § 16, not codified by the General Assembly, provided that the amendment to this Code section by Ga. L. 2000, p. 1589, § 3, was applicable with respect to notices delivered on or after July 1, 2000.
GA Code § 33-12-8 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 12 - Administration of Deposits|§ 33-12-8. Release of Deposits Generally

 Any deposit made in this state under this title shall be released:    To the insurer upon extinguishment by reinsurance or otherwise of all liability of the insurer for the security of which the deposit is held;   To the insurer to the extent such deposit is in excess of the amount required; or   Upon proper order of a court of competent jurisdiction, to the receiver, conservator, rehabilitator, or liquidator of the insurer or to any other properly designated official or officials who succeed to the management and control of the insurer's assets.    (Ga. L. 1887, p. 113, § 4; Civil Code 1895, §§ 2039, 2041; Civil Code 1910, §§ 2423, 2425; Code 1933, §§ 56-323, 56-324; Code 1933, § 56-1108, enacted by Ga. L. 1960, p. 289, § 1.)   OPINIONS OF THE ATTORNEY GENERAL    Paragraph (1) of former Code 1933, § 56-1108 ( see O.C.G.A. § 33-12-8) and former Code 1933, § 56-310 (see O.C.G.A. 33-3-9) are part of the general scheme of Georgia law to protect Georgia citizens in the collection of just claims against foreign corporations which are dissolved and which have their principal assets in other states. 1965-66 Op. Att'y Gen. 66-25.   Paragraph (1) requires insurer to extinguish liability which may be done by reinsurance.   - Paragraph (1) of this section was intended to mean that an insurer, before being allowed to take down its deposits, must extinguish, that is, put an end to all of its liability for the security of which the deposit is held and that, in addition to any other means by which this might be accomplished, it could also be accomplished by the means of reinsurance; to be accomplished by reinsurance would require a reinsurance contract whereby a second insurer is substituted for the first or withdrawing insurer, with the consent of the insured, which, of course, would release the first insurer from all liability to the insured. 1965-66 Op. Att'y Gen. No. 66-25.   If surviving corporation has required amounts on deposit, acquired company's deposits may be released.   - Where the surviving company under a merger agreement has on deposit the amounts required by statute for the various classes of insurance which it is licensed to write, the deposit of the acquired company becomes a surplus deposit which is no longer required and may be released. 1958-59 Op. Att'y Gen. p. 198.
GA Code § 33-12-9 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 12 - Administration of Deposits|§ 33-12-9. Requirement of Application and Order for Release of Deposits; Liability of Commissioner for Release

 No release of deposited funds shall be made except upon application to and the written order of the Commissioner. The Commissioner shall have no liability for any release of any deposit or part of a deposit so made by him in good faith.   (Ga. L. 1916, p. 129, § 2; Code 1933, § 56-1113; Code 1933, § 56-1109, enacted by Ga. L. 1960, p. 289, § 1.)
GA Code § 33-12-10 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 12 - Administration of Deposits|§ 33-12-10. Levy Upon Deposits by Claimants

 No judgment creditor or other claimant of an insurer shall levy upon any deposit held pursuant to this title or upon any part of a deposit, except that such levy may be permitted if so specified in the Commissioner's order requiring the deposit pursuant to the retaliatory provision of Code Section 33-3-26.   (Code 1933, § 56-1110, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1983, p. 3, § 24.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 43 Am. Jur. 2d, Insurance, §§ 29, 103.
GA Code § 33-12-11 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 12 - Administration of Deposits|§ 33-12-11. Retention of Amount to Pay Judgment in Event of Occurrence of Loss by Insured; Application for Appointment of Receiver

 Whenever any loss insured against shall occur, the insured or other person entitled to the proceeds of the policy, by judgment or otherwise, in order to secure his recovery, may give notice to the Commissioner of the occurrence of said loss and of the amount claimed, after which notice the Commissioner shall be bound to retain, subject to the order of a court of competent jurisdiction trying any action that may be brought for the recovery of the loss or any action which may be brought upon any judgment obtained in the courts of another state or the courts of the United States on account of the loss, a sufficient amount to pay the judgment in said case in event of recovery; and, if the amount for which the depositing insurer is liable shall not be paid within 30 days, said plaintiff may file an application with the judge of the superior court of the county where the case was tried for appointment of the Commissioner as receiver to take charge of as many securities as shall be necessary to satisfy the aforesaid judgment.   (Ga. L. 1887, p. 113, § 4; Civil Code 1895, § 2036; Ga. L. 1896, p. 58, § 3; Civil Code 1910, §§ 2420, 2559; Code 1933, §§ 56-302, 56-1109; Code 1933, § 56-1111, enacted by Ga. L. 1960, p. 289, § 1.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 43 Am. Jur. 2d, Insurance, § 107.   C.J.S.   - 44 C.J.S., Insurance, § 245 et seq.   ALR.   - Effect of failure to give notice, or delay in giving notice or filing of proofs of loss, upon fidelity bond or insurance, 23 A.L.R.2d 1065.
GA Code § 33-12-12 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 12 - Administration of Deposits|§ 33-12-12. Proceedings Upon Appointment of Receiver Generally

 The Commissioner in his capacity as receiver shall apply to the judge of the superior court for an order of sale and in pursuance of said order shall sell said securities. After deducting any expenses as shall be allowed by the court, he shall pay over to the plaintiff or his attorney a sufficient amount to satisfy the judgment; and, if there shall remain any residue in the hands of the receiver, he shall pay over the same to the agent of the depositing company taking his receipt for the same, which shall be filed and recorded with the other papers in the case. The receipt shall be a complete discharge to the Commissioner.   (Ga. L. 1887, p. 113, § 4; Civil Code 1895, § 2037; Civil Code 1910, § 2421; Code 1933, § 56-303; Code 1933, § 56-1112, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1982, p. 3, § 33.)   RESEARCH REFERENCES   C.J.S.   - 44 C.J.S., Insurance, § 245 et seq.
GA Code § 33-12-13 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 12 - Administration of Deposits|§ 33-12-13. Proceedings Upon Appointment of Receivers for Satisfaction of Multiple Claims

 If receiverships are ordered for the purpose of holding securities for the future satisfaction of more than one claim, the Commissioner shall retain securities deposited by the insurer and apply the securities to the judgments in the order of his appointments as receiver as provided in Code Section 33-12-11. If the receiver determines that the securities the insurer has on deposit are insufficient to cover the claim and if there is another receivership or there are other receiverships in this state against the same insurer in which distribution has not been completed, the Commissioner shall institute proceedings for a general receivership under Chapter 37 of this title.   (Ga. L. 1887, p. 113, § 4; Civil Code 1895, § 2038; Ga. L. 1896, p. 58, § 3; Civil Code 1910, §§ 2422, 2559; Code 1933, §§ 56-304, 56-1109; Code 1933, § 56-1113, enacted by Ga. L. 1960, p. 289, § 1.)
GA Code § 33-12-14 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 12 - Administration of Deposits|§ 33-12-14. Proceeding by Commissioner Upon Reduction in Amount of Deposit Resulting From Occurrence or Loss by Insured; Effect of Failure to Deposit Additional Securities

 Whenever, by means of Code Sections 33-12-11 through 33-12-13, the amount of securities so deposited shall be reduced, the Commissioner shall give notice to the insurer depositing and require more securities to be deposited so as always to maintain the original amount; and if the company so notified by the Commissioner shall fail to comply within 30 days, its certificate of authority to do business in this state shall be revoked, and the Commissioner shall at the same time give notice by publication of display advertising in bold type in a newspaper of general circulation throughout the state of the fact of the failure and revocation of certificate of authority. The cost of this publication shall be paid by the company failing to comply with this Code section.   (Ga. L. 1887, p. 113, § 4; Civil Code 1895, § 2040; Ga. L. 1896, p. 58, § 3; Civil Code 1910, §§ 2424, 2562; Code 1933, §§ 56-305, 56-1115; Code 1933, § 56-1114, enacted by Ga. L. 1960, p. 289, § 1.)
GA Code § 33-12-15 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 12 - Administration of Deposits|§ 33-12-15. Limitation Period for Settlement or Renewal of Claims Against Deposits of Insurers; Procedure Upon Settlement of Claims

 Whenever a notice of claim is filed with the Commissioner as provided by law against the deposit of any insurance company doing business in Georgia and said claim has not been withdrawn at the expiration of seven years from the date of the notice of claim, the Commissioner is authorized to treat the notice as void and not binding unless the notice of claim is renewed within said seven-year period. In the event the Commissioner determines that a claim on which notice has been filed and not released by claimant has been settled or disposed of in any manner, it is authorized to proceed as if the notice of claim had never been filed.   (Code 1933, § 56-1115, enacted by Ga. L. 1960, p. 289, § 1.)
GA Code § 33-12-16 (2021)
2021 Georgia Code|Title 33 - Insurance|Chapter 12 - Administration of Deposits|§ 33-12-16. Effect of Order of General Receivership

 Whenever a general receivership under Chapter 37 of this title is ordered by a court of this state, it shall supersede receiverships created under Code Sections 33-12-11 through 33-12-13.   (Code 1933, § 56-1116, enacted by Ga. L. 1960, p. 289, § 1.)