Ga. Comp. R. & Regs. 120-2-34-.21

Current through Rules and Regulations filed through June 17, 2024

Rule 120-2-34-.21 - Dividends

(1) Dividends may be returned to the members of the Fund pursuant to O.C.G.A. § 34-9-162(d).

(2) A dividend shall not be paid out of a specific Fund year which would cause the Fund to show an overall negative surplus.

Ga. Comp. R. & Regs. R. 120-2-34-.21

Ga. L. 1960, pp. 289, 305; Ga. L. 1981, pp. 1759, 1778; O.C.G.A. Secs. 33-2-9, 34-9-162, 34-9-174.

Original Rule entitled "Severability" was filed on March 16, 1982; effective April 15, 1982, by Order of the Insurance Commissioner.

Repealed: New Rule of same title adopted. F. May 9, 1990; eff. June 15, 1990, as specified by the Agency.

Repealed: New Rule entitled "Dividends" adopted. F. Nov. 4, 1997; eff. Nov. 24, 1997.