One Click Case Law for § 36-85-18
O.C.G.A. § 36-85-17 <-- --> O.C.G.A. §36-85-19

2010 Georgia Code

TITLE 36 - LOCAL GOVERNMENT
PROVISIONS - PROVISIONS APPLICABLE TO COUNTIES, MUNICIPAL CORPORATIONS, AND OTHER GOVERNMENTAL ENTITIES

CHAPTER 85 - INTERLOCAL RISK MANAGEMENT AGENCIES
§ 36-85-18 - Excess loss funding program required

O.C.G.A. 36-85-18 (2010)
36-85-18. Excess loss funding program required


(a) An interlocal risk management agency shall maintain at all times an excess loss funding program acceptable to the Commissioner. An excess loss funding program may consist of excess insurance, self-funding from unobligated surplus of a fund, any combination of the foregoing, or any other funding program acceptable to the Commissioner.

(b) The excess loss funding program of an agency shall be approved by the Commissioner as a condition to the issuance and maintenance of a certificate of authority of any agency which establishes a fund or funds authorized pursuant to this article. An agency may be permitted to purchase excess insurance:

(1) From insurers authorized to transact business in this state; or

(2) From approved surplus lines carriers.