Ga. Comp. R. & Regs. R. 120-2-49-.11 - Annual Renewal
(1) Each authorized administrator shall file
with the Commissioner an annual renewal of its license on a form prescribed by
the Commissioner which sets forth the administrator's transactions, and
affairs. The statement shall be filed annually on or before March 1. The annual
renewal shall be in such form and contain such matters as the Commissioner
prescribes and shall be verified by at least one officer of the administrator.
For good cause shown the Commissioner may extend the time for filing of the
annual renewal of the license conditioned upon payment of a fee prescribed
therefore.
(2) At the time of
filing its annual renewal, the administrator shall pay a filing fee as provided
in O.C.G.A. ยง
33-8-1.
(3) The annual renewal shall include the
complete names, addresses, N.A.I.C. company and N.A.I.C. group number of all
insurers with which the administrator had an agreement during the preceding
fiscal year, and the complete names and addresses of all self-insurers where
such agreement existed during the preceding fiscal year.
(4) The administrator shall at all times
maintain a net worth of $200,000. If the administrator fails to maintain a net
worth of $200,000 the Commissioner, in his/her discretion, may enter any
disciplinary order as he/she deems appropriate pursuant to Title 33 of the
Georgia Insurance Code.
Notes
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