The Drell-Hearn-Gerasimov (DHG) sum rule relates the helicity structure of the photoabsorp-tion cross section to the anomalous magnetic moment of the nucleon. It is based on Lorentz and gauge invariance, crossing symmetry, causality and unitarity. A generalized DHG sum rule my be derived for virtual photons. At low momentum transfer this generalized sum rule is saturated by the resonance region...