Ga. Comp. R. & Regs. R. 120-2-3-.05 - Licensure of Agencies
(1) For the purposes of O.C.G.A. §
33-23-3, a principal office of an
agency shall be defined as the primary location of an agency or agency
organization with multiple locations. An agency or organization with multiple
locations seeking licensure must designate one agency location as the principal
office of such organization. A branch office of an agency shall be defined as
all other locations of the agency or agency organization.
(2) In order to be eligible for an agency
license issued in accordance with Chapter 23 of Title 33 of the Official Code
of Georgia Annotated and this Regulation, the applicant must make proper
application to the Commissioner and pay all required fees.
(3) In accordance with O.C.G.A. §
33-23-3, an application for an
agency license must be accompanied by the appropriate form containing the
designation of the principal office of the agency. For filings regarding an
agency branch office location, the name and address of the agency's principal
office location will be required.
(4) Each principal office and branch office
shall remit the fee prescribed in O.C.G.A. §
33-8-1with the agency licensing
application. Effective July 1, 2012, all new agency licenses will be issued on
a biennial basis.
(5) Each agency
location must have at least one licensed agent whose primary place of business
is that agency location.
(6) A
business entity must be licensed as an agency if it employs an individual who
is required to be licensed as an agent pursuant to O.C.G.A. §
33-23-1et seq. and this
Regulation, and such individual is selling, soliciting, or negotiating
insurance on behalf of that business entity.
(7) The lines of authority of an agency
cannot be greater than the lines of authority held by the agent or agents whose
primary place of business is that agency location.
(8) An agency license does not eliminate the
need for an agent license for any individual that sells, solicits, or
negotiates insurance.
(9) License
renewal:
(a) All agency licenses issued prior
to July 1, 2012 expire on December 31 of the year issued; an agency is required
to renew the license prior to expiration on forms prescribed by the
Commissioner. The appropriate fee as prescribed in O.C.G.A. §
33-8-1must accompany the renewal
application.
(b) The appropriate
fee as prescribed in O.C.G.A. §
33-8-1must accompany the renewal
application. Beginning July 1, 2012, upon renewal, all agency licenses will be
converted to a biennial license.
(c) Agency may file a late renewal with
appropriate late fee within 15 days of the expiration date of the agency
license.
(10) A licensed
entity under Chapter 3 of Title 7 of the Official Code of Georgia Annotated
shall be deemed licensed under this Regulation.
(11) The license issued in accordance with
this Rule must be available for public inspection in the agency
location.
Notes
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