Limitation Period for Assessments

  1. Law
  2. Georgia Code
  3. Insurance
  4. Reciprocal Insurers
  5. Limitation Period for Assessments

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Every subscriber of a domestic reciprocal insurer having contingent liability shall be liable for and shall pay his share of any assessment, as computed and limited in accordance with this chapter, if:

  1. While his or her policy is in force or within one year after its termination, he or she is notified by either the attorney or the Commissioner of his or her intentions to levy the assessment; or
  2. If an order to show cause why the receiver, conservator, rehabilitator, or liquidator of the insurer should not be appointed is issued while his or her policy is in force or within one year after its termination.

(Code 1933, § 56-2124, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 2019, p. 337, § 1-83/SB 132.)

The 2019 amendment, effective July 1, 2019, inserted "or her" in two places in paragraph (1) and in paragraph (2), and inserted "or she" in paragraph (1).

Law reviews.

- For article, "Statutes of Limitation: Counterproductive Complexities," see 37 Mercer L. Rev. 1 (1985).


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