If for any reason the market value of assets and securities of an insurer held on deposit in this state under this title falls below the amount so required, the insurer shall promptly deposit other or additional assets or securities eligible for deposit sufficient to cure the deficiency. If the insurer has failed to cure the deficiency within 30 days after receipt of notice to deposit other or additional assets or securities by registered or certified mail or statutory overnight delivery from the Commissioner, the Commissioner shall revoke the insurer's certificate of authority.
(Ga. L. 1887, p. 113, § 4; Civil Code 1895, § 2040; Civil Code 1910, § 2424; Code 1933, § 56-305; Code 1933, § 56-1107, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 2000, p. 1589, § 3.)
Editor's notes.- Ga. L. 2000, p. 1589, § 16, not codified by the General Assembly, provided that the amendment to this Code section by Ga. L. 2000, p. 1589, § 3, was applicable with respect to notices delivered on or after July 1, 2000.