---
title: O.C.G.A. § 33-15-100. Standards of valuation.
collection: code
id: 33-15-100
cite_as: O.C.G.A. § 33-15-100 (2025)
canonical_url: https://georgiacommons.org/code/33-15-100
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source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t33-ch1-22-(v24)-2020-pdf.pdf?sfvrsn=a873240d_0#page=746
date: 2025
status: active
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publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: INSURANCE / FRATERNAL BENEFIT SOCIETIES / VALUATION STANDARDS; LICENSES AND RENEWALS; EXAMINATIONS; VIOLATIONS; AGENTS OR REPRESENTATIVES
---

# O.C.G.A. § 33-15-100. Standards of valuation.

(a) Standards of valuation for certificates issued prior to one year after January 1, 1994, shall be those provided by the laws applicable immediately prior to January 1, 1994.

(b) The minimum standards of valuation for certificates issued on or after one year from January 1, 1994, shall be based on the following tables:

(1) For certificates of life insurance—the Commissioners 1941 Standard Ordinary Mortality Table, the Commissioners 1941 Standard Industrial Table, the Commissioners 1958 Standard Ordinary Mortality Table, the Commissioners 1980 Standard Ordinary Mortality Table, or any more recent table made applicable to life insurers; and

(2) For annuity and pure endowment certificates, for total and permanent disability benefits, for accidental death benefits, and for noncancelable accident and health benefits—such tables as are authorized for use by life insurers in this state.

All of the above shall be under valuation methods and standards, including interest assumptions, in accordance with the laws of this state applicable to life insurers issuing policies containing like benefits.

(c) The Commissioner may, in his or her discretion, accept other standards for valuation if the Commissioner finds that the reserves produced thereby will not be less in the aggregate than reserves computed in accordance with the minimum valuation standard prescribed in subsection (b) of this Code section. The Commissioner may, in his or her discretion, vary the standards of mortality applicable to all benefit contracts on substandard lives or other extrahazardous lives by any society authorized to do business in this state.

(d) Any society, with the consent of the commissioner of insurance of the state of domicile of the society and under such conditions, if any, which the commissioner may impose, may establish and maintain reserves on its certificates in excess of the reserves required thereunder, but the contractual rights of any benefit member shall not be affected thereby.

## History

Code 1981, § 33-15-100, enacted by Ga. L. 1993, p. 1744, § 1.