Ga. Comp. R. & Regs. R. 120-2-3-.20 - Resident Surplus Lines Brokers
(1) In order to be eligible for a resident
surplus lines broker license in accordance with Chapters 5 and 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.
(2) The applicant must be a
licensed resident agent for property and casualty insurance. Failure to
maintain a current property and casualty agent's license will result in the
cancellation of the surplus lines broker license.
(3) The applicant must include with
application a surplus lines broker bond in accordance with Rule
120-2-3-.18.
(4) The applicant must pass the required
surplus lines examination and apply for licensure within 12 months from
receiving the passing grade. Exceptions to the examination requirement will be
made in the following circumstances:
(a) An
applicant who was previously licensed as a surplus lines broker in another
state shall be exempt from the surplus lines examination. This exemption is
only available if the individual is currently licensed in that state or if the
application is received within 90 days of the cancellation of the applicant's
previous license. The applicant must have been in good standing with the prior
state as evidenced by a certificate of good standing provided by that state and
verifiable in the producer data base records maintained by authorized
systems.
(b) An applicant with
designation of CPCU shall be exempt from the surplus lines
examination.
(5) All
continuing education requirements as outlined in Rule
120-2-3-.15 and all renewal
requirements as outlined in Rule
120-2-3-.16 apply.
Notes
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