Limitation on organizational expenses
— Code 1933, § 56-1542, enacted by Ga
The total expenses of organization of any insurer organized under this chapter including commissions for the sale of stock shall not exceed 1212 percent of the amount for which the stock is sold in the case of a stock insurer and 121/2 percent of the paid-in surplus in the case of a
mutual insurer.
Current official text: Official Code of Georgia Annotated (LexisNexis). Digitized from the Internet Archive scan of the OCGA. Reproduced from public-domain Georgia statutes; confirm against the official source for the current text. Not legal advice.