Section 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.Amended by 2019 Ga. Laws 139,§ 1-59, eff. 7/1/2019.