Ga. Comp. R. & Regs. R. 120-2-10-.14 - Penalties

(1) Violation of these regulations by an insurer or by an officer of an insurer shall be deemed grounds for revocation of the insurer's certificate of authority as provided in Section 33-3-17(2) of the Georgia Insurance Code, which shall be in addition to any other penalty provided by statute.

(2) Violation of these regulations by an agent, counselor, broker, solicitor or other representative of an insurer shall be deemed to be a fraudulent and dishonest practice, a material misrepresentation, an unfair method of competition and unfair and deceptive acts and practices in the business of insurance furnishing grounds for the revocation of his license.

Notes

Ga. Comp. R. & Regs. R. 120-2-10-.14

Ga. L. 1960, pp. 289, 305. Ga. L. 1986, p. 688.

Original Rule entitled "Penalties" was filed on April 11, 1980; effective July 1, 1980, as Rule 120-2-10-.12 and renumbered as Rule 120-2-10-.14 in filing of July 24, 1986; effective September 1, 1986, as specified by the Agency. Repealed: New Rule of same title adopted. F. Aug. 24, 1989; eff. Jan. 1, 1990, as specified by the Agency.