Ga. Comp. R. & Regs. R. 120-2-3-.49 - Limited Credit Agency License

(1) Upon application to the Commissioner, a limited credit insurance agency license shall be issued provided that:
(a) Application is made on such form or forms as are prescribed by the Commissioner for this purpose, and shall include at least the following:
(i) A list of individual employees who will be selling, soliciting and/or negotiating insurance on behalf of the applicant in accordance with O.C.G.A. § 33-23-12(b.1) who are not licensed as agents pursuant to Chapter 23 of Title 33. Such employees shall be considered registered with the Department for purposes of O.C.G.A. § 33-23-12(b.1) and this Regulation. This list shall include any specific information as is required by the Commissioner including but not limited to the following for each employee:
1. Name;
2. Social security number;
3. Date of birth;
4. Certification that applicant has examined the character and fitness of each individual employee, including but not limited to performance of a background check, and is satisfied that such employee is of good character;
5. Certification, including an attached certificate of completion for each employee, that such employees have received the training required by O.C.G.A. § 33-23-12(b.1); and
(ii) A list of locations where credit insurance will be sold, solicited and/or negotiated on behalf of the applicant. Such locations shall be considered registered with the Department for purposes of O.C.G.A. § 33-23-12(b.1) and this Regulation. This list shall include any specific information regarding such locations as is required by the Commissioner including but not limited to address, FEIN number (if applicable) and contact person;
(b) The applicant meets the requirements for licensure pursuant to Chapter 23 of Title 33 of the Official Code of Georgia Annotated and this Regulation; and
(c) The applicant remits the fee required by O.C.G.A. § 33-8-1for a principal agency license as well as $100 per registered employee, as set forth in 120-2-3-.49(1)(a)(i) above, and $20 per registered location, as set forth in 120-2-3-.49(1)(a)(ii) above.
(2) No examination is required for licensure
(3) Should the information set forth in 120-2-3-.49(1)(a)(i) or (ii) above that was submitted as part of the limited credit insurance agency licensee's initial license application change at any time during the period of licensure, such licensee shall notify the Department on such form or forms as are prescribed by the Commissioner for this purpose. Additionally, licensee shall remit $50 per additional registered employee, as set forth in 120-2-3-.49(1)(a)(i) above, and $50 per additional registered location, as set forth in 120-2-3-.49(1)(a)(ii) above.
(4) Limited credit insurance agency licenses shall renew biennially on December 31 of the applicable renewal year in accordance with § 33-23-12(b.1)(7). Licensees must submit a renewal application prior to expiration on such form or forms as are prescribed by the Commissioner for this purpose and remit the fee required pursuant to O.C.G.A. § 33-8-1for renewal of a principal agency license as well as $100 per registered employee and $20 per registered location.
(5) If the licensee fails to file the complete and correct renewal with all required attachments and fees remitted, it will be required to reapply for the licensee and satisfy all initial application requirements regarding the limited credit insurance agency license as set forth in Chapter 23 and herein.

Notes

Ga. Comp. R. & Regs. R. 120-2-3-.49
O.C.G.A. §§ 33-2-9, 33-8-1, 33-23-12, 33-23-44.
Original Rule entitled "Severability" adopted. F. Nov. 26, 2012; eff. Dec. 16, 2012. Repealed: New Rule entitled "Violations" adopted. F. Oct. 15, 2013; eff. Nov. 4, 2013. Repealed: New Rule entitled "Limited Credit Agency License" adopted. F. Dec. 4, 2018; eff. Dec. 26, 2018, as specified by the Agency.

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