For all accident and sickness insurance policies the insurer shall maintain an active life reserve which shall place a sound value on its liabilities under such policies and which shall not be less in the aggregate than the reserve according to such method of calculation as the Commissioner may approve.
History. Code 1933, § 56-908, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1980, p. 1108, § 3; Ga. L. 1985, p. 1087, § 2.
Cross references.
Definition of accident and sickness insurance, § 33-7-2 .
Law reviews.
For note, “Misrepresentations and Nondisclosures in the Insurance Application,” see 13 Ga. L. Rev. 876 (1979).
Structure Georgia Code
Chapter 10 - Assets and Liabilities
§ 33-10-1. Assets Considered in Determining Financial Condition of Insurers Generally
§ 33-10-3. Deduction of Assets From Liabilities and Liabilities From Assets Generally
§ 33-10-5. Capital Stock and Liabilities Charged Against Assets
§ 33-10-7. Marine Insurance, Required Reserves
§ 33-10-8. Accident and Sickness Insurance, Required Reserves
§ 33-10-10. Title Insurance, Required Reserves
§ 33-10-11. Requirement of Special Reserve for Certain Bonds
§ 33-10-12. Requirement by Commissioner of Increase in Loss Reserves
§ 33-10-13. Standard Valuation
§ 33-10-14. Valuation of Investments
§ 33-10-16. Valuation of Real and Personal Property Reserves