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
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.