§ 20-2-2015. Fund Insufficient to Discharge Obligations; Liquidation
If the assets of a fund are at any time insufficient to enable a fund to discharge its legal liabilities and other obligations and to maintain the reserves and surplus required of it under this article, the agency shall forthwith make up the deficiency or levy an assessment upon the members of the fund for […]
§ 20-2-2016. Rules and Regulations
The Commissioner shall have authority to promulgate rules and regulations to effectuate the provisions of this article. History. Code 1981, § 20-2-2016 , enacted by Ga. L. 1986, p. 1172, § 1. Law reviews. For article, “SB 47: Eligibility Expansion for the Georgia Special Needs Scholarship Program,” see 38 Ga. St. U.L. Rev. 83 (2021).
§ 20-2-2017. Remedies of Aggrieved Parties
Any party which is aggrieved by any act, determination, order, or any other action of the Commissioner taken pursuant to this article may request a hearing before the Commissioner or otherwise proceed in accordance with Chapter 13 of Title 50, the “Georgia Administrative Procedure Act.” History. Code 1981, § 20-2-2017 , enacted by Ga. L. […]
§ 20-2-2018. Excess Loss Funding Program; Condition for Certificate of Authority
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 such excess insurance or self-funding, or any other funding program acceptable to the Commissioner. The excess […]
§ 20-2-2019. Annual Audit
Each fund established under this article shall have an annual audit of its books and accounts performed by a certified public accountant. Such audit shall be conducted in accordance with generally accepted accounting principles. A copy of such audit shall be made available to fund members. History. Code 1981, § 20-2-2019 , enacted by Ga. […]
§ 20-2-2004. Agency Is Not an Insurer
An interlocal risk management agency created pursuant to this article is not an insurance company or an insurer under Title 33, and the development and administration by such agency of one or more group self-insurance funds shall not constitute doing business as an insurer. History. Code 1981, § 20-2-2004 , enacted by Ga. L. 1986, […]
§ 20-2-2020. Sovereign Immunity Not Waived
The exercise by a board of education or school system of the authority provided in this article shall not constitute the provision of liability insurance protection under Article I, Section II, Paragraph IX of the Constitution of the State of Georgia. The participation by a board of education or school system as a member of […]
§ 20-2-2005. Certificate of Authority
No interlocal risk management agency shall establish a group self-insurance fund or funds until such agency has been issued a certificate of authority by the Commissioner as provided in this Code section and under such rules and regulations as the Commissioner may promulgate to assure compliance with this article. The Commissioner shall not be authorized […]
§ 20-2-2006. Issuance, Renewal, or Revocation of Certificate
The Commissioner shall examine the application made under Code Section 20-2-2005 to determine whether the agency and any established fund will be able to comply with this article and applicable rules and regulations. If the Commissioner finds that the agency and any established fund are capable of complying with such requirements, he shall issue a […]
§ 20-2-2007. Minimum Surplus Required
Each fund formed pursuant to this article shall possess and thereafter maintain minimum surplus in an amount such as the Commissioner may reasonably establish or subsequently require for the protection of the members. The Commissioner may authorize a fund to maintain a deposit consisting of securities eligible for deposit by domestic insurance companies in accordance […]