Section 33-3-6. Requirements as to capital stock or surplus generally

   (a) On or after July 1, 2000, to qualify for an original certificate of authority to transact one or more classes of insurance, an insurer shall possess and thereafter maintain a minimum of $1.5 million in capital stock or in surplus.

(b) As to surplus required for initial qualification to transact one kind of insurance and thereafter to be maintained, domestic mutual insurers shall be governed by Chapter 14 of this title and domestic reciprocal insurers shall be governed by Chapter 17 of this title. Hospital service nonprofit corporations and nonprofit medical service corporations shall be governed by Chapters 19 and 18 of this title, respectively. Farmers' mutual fire insurance companies shall be governed by Chapter 16 of this title.

Code 1933, § 56-306, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1984, p. 1080, § 1; Ga. L. 1985, p. 149, § 33; Ga. L. 1990, p. 1275, § 2; Ga. L. 1992, p. 1539, § 1; Ga. L. 1995, p. 637, § 1; Ga. L. 2000, p. 1246, § 2.