§ 33-44-6 - (For effective date, see note.) Net premiums; revision of schedule of benefits and cost containment features - Georgia Statutes

O.C.G.A. 33-44-6 (2010)
33-44-6. (For effective date, see note.) Net premiums; revision of schedule of benefits and cost containment features

(a) Following the close of each fiscal year, the plan administrator shall determine the net premiums, which shall be total premiums less administrative expense allowances, the plan expenses of administration, and the incurred losses for the year, taking into account investment income and other appropriate gains and losses, and shall report such information to the board of directors.

(b) The board of directors may revise the fixed schedule of benefits and cost containment features provided under the plan as necessary to ensure that the plan maintains adequate resources for continued operation.