GA HB656

Amends Georgia's motor vehicle accident reparations law (O.C.G.A. § 33-34-5.1) to allow qualifying religious organizations to obtain certificates of self-insurance from the Commissioner of Insurance for motor vehicles owned or leased by their members.

Eligible religious organizations must be a recognized sect or division of a recognized religious group in continuous existence since December 31, 1950, whose members share a common belief in mutual financial assistance, and the group must have been exempt from federal Social Security and Medicare taxes since December 31, 1970.

Establishes a tiered minimum security requirement based on the number of covered vehicles, ranging from $150,000 for 1–50 vehicles up to $600,000 for 351 or more vehicles.

Acceptable forms of minimum security are limited to U.S. currency deposited with the Commissioner, irrevocable letters of credit valid for at least 24 months from a state- or federally-chartered institution, or bonds/negotiable obligations issued by the state or its subdivisions.

Certificates are valid for 12 months, renewable upon filing an application with claims history and proof of continued eligibility; the Commissioner may revoke a certificate if a self-insurer fails to pay a valid claim or satisfy a judgment within 30 days.