Ga. Comp. R. & Regs. 120-2-50-.11
Current through Rules and Regulations filed through December 24, 2024
The plan must establish and maintain loss reserves in an amount deemed appropriate by the Commissioner. Plans in existence and actually operating in a sound manner for a period of at least 3 years prior to July 1, 1991, may maintain a reserve amount, which combined with surplus, will be 35% of claims paid by such plan in the immediate preceding year. The 35% level combined surplus/reserve may be deemed appropriate by the Commissioner so long as a determination is made that the insured employees/employer plan is in sound financial condition.
Ga. Comp. R. & Regs. R. 120-2-50-.11
O.C.G.A. Secs. 33-2-9. 33-50-7, 33-50-10.