Compilation of Rules and Regulations of the State of Georgia
Department 120 - OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER
Chapter 120-2 - RULES OF COMMISSIONER OF INSURANCE
Subject 120-2-10 - REGULATIONS REGARDING INSURANCE CONTRACT
Rule 120-2-10-.07 - Agents, Payments for Furnishing Leads and Reference to Regulations
Current through Rules and Regulations filed through September 23, 2024
No insurer or agent holding a license as a permanent insurance agent or other representative of an insurer shall:
(a) Pay, allow, or give, or offer to pay, allow, or give, directly or indirectly, any commission or other valuable consideration as a result of the sale of a life insurance or annuity policy to any person for furnishing a lead, unless such person is currently licensed in this State to sell life insurance.
(b) Apply for a temporary life insurance license, intending at the time of application not to qualify by written examination as a permanent insurance agent, provided, however, that this shall not prohibit the issuance of temporary licenses to persons entitled thereto as provided in Section 33-23-8(1)(2) of the Georgia Insurance Code.
(c) Sponsor for a life insurance license a person the sponsor could reasonably be expected to know has no intention of qualifying for a license as a permanent insurance agent, or a person whom the sponsor is not in good faith considering to contract with as a permanent insurance agent.
(d) Make any reference to the regulations of this Chapter in an attempt or effort to induce a policyholder to lapse, cancel or replace any insurance policy currently in force, or make any reference to these regulations in an attempt or effort to sell or induce any person to buy any particular kind or type of insurance policy approved for sale in Georgia.
O.C.G.A. Sec. 33-2-9.
