O.C.G.A. § 33-14-73: Dividends payable only out of net realized savings and earnings.

(a) The directors of a domestic mutual insurer may from time to time apportion and pay or credit to its members dividends only out of that part of its surplus funds which represent net realized savings and net realized earnings from its business.

(b) A dividend otherwise proper may be payable out of the savings and earnings even though the insurer’s total surplus is then less than the aggregate of its contributed surplus.