Ga. Comp. R. & Regs. R. 120-2-3-.31 - Limited Subagent License
(1) Limited subagent means an individual
licensed pursuant to O.C.G.A.
33-23-12(a) under
the sponsorship of a licensed agent. With the scope of authority set forth in
Chapter 23 of Title 33 of the Official Code of Georgia Annotated, a limited
subagent license may be issued, limiting the insurance activity to the
following:
(a) Personal lines-property and
casualty;
(b) Personal
insurance-life, accident and sickness.
(2) In order to be eligible for a limited
subagent 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.
(a) The application process shall include
sponsorship by a resident agent licensed to do business in this state. Prior to
issuance of the license, the sponsoring agent shall agree to appoint the
applicant as a representative of the agent. The sponsoring agent shall affirm
that an investigation on the general character of the applicant has been
conducted by an agency not affiliated with the agent and that the sponsoring
agent recommends the applicant for a license. Such investigation shall include
a criminal background check.
(b)
Effective January 1, 2010, all new applicants, excluding active licensees and
individuals that apply for reinstatement within 6 months of expiration date,
shall be required to submit electronic fingerprints through a vendor selected
by the Department for a criminal background check. The applicant shall bear the
cost for electronic fingerprinting.
(c) The applicant may not become licensed in
a category of insurance not included in the license of the sponsoring
agent.
(d) The applicant shall
provide evidence of completion of an approved limited subagent prelicensing
course in the lines for which he/she seeks licensure. Such evidence shall
accompany the application. Such completion will only be accepted if the
prelicensing course has been taken within twelve (12) months of filing the
application for licensure.
(3) No examination shall be
required.
(4) The sponsoring agent
shall retain the limited subagent's license. In the event the relationship with
the limited subagent is terminated, the sponsoring agent shall return the
license to the Commissioner with a request for termination of the limited
subagent license.
(5) Each year by
the dates specified in Rule
120-2-3-.16, license renewals, and
evidence of at least five (5) hours of continuing education must be filed each
year on forms specified by the Commissioner and accompanied by the required
fees. After conversion to a biennial license and upon subsequent renewal, each
limited subagent licensee is required to provide proof of ten (10) hours of
continuing education.
(6) The
limited subagent certificate of authority must be renewed in conjunction with
the limited subagent license renewal.
(7) The termination, cancellation, or
nonrenewal of the sponsoring agent's license will result in the cancellation of
the limited subagent license.
Notes
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