Georgia § 33-16-13 - Amount of minimum surplus required.
Full text of Georgia Official Code of Georgia Annotated § 33-16-13 — Amount of minimum surplus required., with citation guidance and answers to common questions.
§ 33-16-13. Amount of minimum surplus required.
The amount of minimum surplus required for each farmers' mutual fire insurance company shall be determined on an individual basis; however, no farmers' mutual fire insurance company shall be issued a certificate of authority unless it shall possess and thereafter maintain a minimum of $150,000.00 in surplus. Minimum surplus of up to $150,000.00 shall be maintained in any of the following: Cash; Certificates of deposit or similar certificates or evidence of deposits in banks or trust companies but only to the extent that the certificates or deposits are insured by the Federal Deposit Insurance Corporation; or Savings accounts, certificates of deposit, or similar certificates or evidence of deposit in savings and loan associations and building and loan associations but only to the extent that the same are insured by the Federal Savings and Loan Insurance Corporation. A portion of the minimum surplus, in an amount determined by the Commissioner, must be deposited with this state prior to the issuance of the certificate of authority. Chapter 12 of this title shall apply to the deposit required by this subsection. Any additional surplus in excess of $150,000.00 required by the Commissioner pursuant to subsection (a) of this Code section may be provided and maintained in any of the following: Any eligible investments of minimum capital or surplus authorized by Code Section 33-11-5; or Any other investments approved by the Commissioner that do not impair the financial solvency of the farmers' mutual fire insurance company. (Code 1933, § 56-2011, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1982, p. 856, § 1; Ga. L. 2012, p. 1040, § 1/SB 203.)
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 33-16-13
What does Official Code of Georgia Annotated § 33-16-13 cover?
Section 33-16-13 ("Amount of minimum surplus required.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 33-16-13?
A common citation format is "Official Code of Georgia Annotated § 33-16-13" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 33-16-13 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.