Compilation of Rules and Regulations of the State of Georgia
Department 120 - OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER
Chapter 120-2 - RULES OF COMMISSIONER OF INSURANCE
Subject 120-2-35 - BOOK-ENTRY SECURITIES
Rule 120-2-35-.09 - Substitution of Securities on Deposit
Current through Rules and Regulations filed through March 20, 2024
Any company which has an existing deposit of securities with the Commissioner of Insurance or the custodian bank may make a substitution of all or part of its deposit, provided that all of the following conditions have been met:
(a) The company desiring to replace securities shall make a written request for replacement to the custodian bank or the Commissioner of Insurance; and
(b) The replacement deposit shall be of an equal or a greater market value to the securities being replaced; and
(c) The company must submit the official receipt or other appropriate documentation for the securities it desires to be replaced.
O.C.G.A. Secs. 33-2-9, 33-12-4, 33-12-5, 33-12-8.
