Georgia § 33-22-5 Minimum capital requirements; deposit of securities or filing of bond

Georgia Statutes

§ 33-22-5 — Minimum capital requirements; deposit of securities or filing of bond

Georgia § 33-22-5

Title33

This text of Georgia § 33-22-5 (Minimum capital requirements; deposit of securities or filing of bond) 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. § 33-22-5 (2026).

Text

No license shall be issued to any applicant for a license or renewal license under this chapter unless the applicant:

(1)Shall possess and thereafter maintain a minimum balance of at least $5,000.00 in his capital account as shown in his annual report to the Commissioner; provided, however, the Commissioner shall in his discretion require such higher amounts of capital as he deems necessary for the protection of the public; and (2) Shall deposit with the Commissioner securities acceptable to the Commissioner in the amount of $25,000.00; or (3) Shall file with the Commissioner a bond, to be approved by the Commissioner and made payable to the Commissioner or his successor in office, executed by the applicant as principal and by a corporate surety authorized to do business in this state in

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No license shall be issued to any applicant for a license or renewal license under this chapter unless the applicant: (1) Shall possess and thereafter maintain a minimum balance of at least $5,000.00 in his capital account as shown in his annual report to the Commissioner; provided, however, the Commissioner shall in his discretion require such higher amounts of capital as he deems necessary for the protection of the public; and (2) Shall deposit with the Commissioner securities acceptable to the Commissioner in the amount of $25,000.00; or (3) Shall file with the Commissioner a bond, to be approved by the Commissioner and made payable to the Commissioner or his successor in office, executed by the applicant as principal and by a corporate surety authorized to do business in this state in the penal sum of $25,000.00, conditioned that the licensee will conduct his business in accordance with this chapter and the laws of this state and that the licensee will properly account for all moneys collected in connection with this chapter and the laws of this state. The bond shall remain in full force and effect until the surety is released from liability by the Commissioner or until the bond is canceled by the surety and the bond shall not be canceled or terminated unless prior to the cancellation or termination 30 days' written notice is filed with the Commissioner.