Georgia § 33-11-31 Acquisition and holding of real property for recreation, hospitalization, convalescence, and retirement of employees

Georgia Statutes

§ 33-11-31 — Acquisition and holding of real property for recreation, hospitalization, convalescence, and retirement of employees

Georgia § 33-11-31

Title33

This text of Georgia § 33-11-31 (Acquisition and holding of real property for recreation, hospitalization, convalescence, and retirement of employees) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 33-11-31 (2026).

Text

Subject to prior approval of the Commissioner, an insurer may acquire and hold real property for recreation, hospitalization, convalescence, and retirement purposes of its employees. All investments under this Code section shall not exceed 5 percent of the insurer's surplus; or, if a mutual or reciprocal insurer, all of those investments shall not exceed 5 percent of the insurer's surplus in excess of the surplus required to be maintained under this title for its authority to transact insurance.

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Subject to prior approval of the Commissioner, an insurer may acquire and hold real property for recreation, hospitalization, convalescence, and retirement purposes of its employees. All investments under this Code section shall not exceed 5 percent of the insurer's surplus; or, if a mutual or reciprocal insurer, all of those investments shall not exceed 5 percent of the insurer's surplus in excess of the surplus required to be maintained under this title for its authority to transact insurance.