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O.C.G.A. § 33-10-1 <-- --> O.C.G.A. §33-10-11

2010 Georgia Code

TITLE 33 - INSURANCE

CHAPTER 10 - ASSETS AND LIABILITIES
§ 33-10-10 - Required reserves -- Title insurance

O.C.G.A. 33-10-10 (2010)
33-10-10. Required reserves -- Title insurance


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:

(1) Ten percent of the total amount of the risk premiums hereafter written in the calendar year for title insurance contracts shall be assigned originally to the reserve; and

(2) 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.