Georgia Statutes
§ 33-16-7 — Power of board to borrow money and pledge assets of company
Georgia § 33-16-7
JurisdictionGeorgia
Title33
This text of Georgia § 33-16-7 (Power of board to borrow money and pledge assets of company) 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. § 33-16-7 (2026).
Text
The board of directors of a farmers' mutual fire insurance company may, at any time, borrow such sum or sums of money as they may deem necessary to pay its losses, accrued or unaccrued, and may pledge the assets of the company including the contingent liability of policyholders for the losses as security for the loan.
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Legislative History
Amended by 2012 Ga. Laws 727,§ 1, eff. 7/1/2012.
Nearby Sections
15
§ 33-1-1
Short title§ 33-1-16-1
Excessive, fraudulent, or high-tech drug testing of certain individuals as fraudulent insurance act§ 33-1-17
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Definitions§ 33-1-20
Health care sharing ministryCite This Page — Counsel Stack
Bluebook (online)
Georgia § 33-16-7, Counsel Stack Legal Research, https://law.counselstack.com/statute/ga/33-16-7.