---
title: O.C.G.A. § 47-1-16. Public retirement systems prohibited from having insurable interest in members; prohibition on expending or obligating funds for purchase of life insurance on members; exception.
collection: code
id: 47-1-16
cite_as: O.C.G.A. § 47-1-16 (2025)
canonical_url: https://georgiacommons.org/code/47-1-16
md_url: https://georgiacommons.org/code/47-1-16.md
text_url: https://georgiacommons.org/code/47-1-16/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t47-(v35)-pdf.pdf?sfvrsn=9ec6d528_0#page=7
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/47-1.md
previous: https://georgiacommons.org/code/47-1-15.md
next: https://georgiacommons.org/code/47-1-17.md
index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: RETIREMENT AND PENSIONS / GENERAL PROVISIONS / IN GENERAL
---

# O.C.G.A. § 47-1-16. Public retirement systems prohibited from having insurable interest in members; prohibition on expending or obligating funds for purchase of life insurance on members; exception.

No public retirement system in this state shall have an insurable interest in active or retired members of such retirement system. No public retirement system shall have the authority to expend or obligate funds under the control of such retirement system to purchase life insurance on its members except where all benefits are paid to a member’s estate or to a beneficiary designated by the individual member.

## History

Code 1981, § 47-1-16, enacted by Ga. L. 2012, p. 673, § 1/HB 297.

## Effective Date

This Code section became effective May 1, 2012.