Rule 120-2-40-.15. Reserves

An Agency shall establish reserves for each of its Funds to cover all incurred losses, both reported and unreported, and for unearned premiums. If the loss experience shows that a Fund's loss reserves are inadequate, the Commissioner shall require the Agency to increase such loss reserves as are needed to make them adequate. All reserves shall be maintained in accordance with the requirements of Chapter 10 of Title 33.

Editor's Note: In accordance with Ga. Laws 1967, p. 618, (Ga. Code Ann., Section 3A-124), the contents of the following Rules are not filed with or published by the Secretary of State; only the name and designation is filed, printed, and distributed. These Regulations are on file in the office of the Comptroller General and are open for public examination and copying. (See Editor's Note, p. 88.03.)

Authority: O.C.G.A. §§ 20-2-2016, 33-2-9; 36-85-16, 50-13-21.

History. Original Rule entitled "Reserves" was filed on April 10, 1987; effective April 30, 1987.

Amended: F. Aug. 4, 2025; eff. Aug. 24, 2025.