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 120-2-107 - INSURANCE WRITTEN IN CONNECTION WITH LOANS UNDER THE GEORGIA INSTALLMENT LOAN ACT
Rule 120-2-107-.11 - Premiums
Universal Citation: GA Rules and Regs r 120-2-107-.11
Current through Rules and Regulations filed through September 23, 2024
(1) The charge to the consumer for any insurance shall not exceed the premium charged by the insurer and the premium of premiums charged for such insurance shall be reasonable in relation to the amount and term of the credit and the risk covered and the benefits provided.
(2) Upon prepayment, refinancing, or renewal of the debt before final maturity date the debtor shall be entitled to receive that portion of the premiums on any insurance refunded by the insurance carrier.
O.C.G.A. §§ 33-2-9, 7-3-11(3).
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