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.
(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).
RESEARCH REFERENCES
Am. Jur. 2d.
- 43 Am. Jur. 2d, Insurance, § 36.
C.J.S.- 46A C.J.S., Insurance, § 1789 et seq.