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 120-2-27 - CREDIT LIFE AND CREDIT ACCIDENT AND SICKNESS INSURANCE FORMS
Rule 120-2-27-.18 - Refunds
Universal Citation: GA Rules and Regs r 120-2-27-.18
Current through Rules and Regulations filed through September 23, 2024
(1) In the event of termination, no charge for credit insurance shall be made for the first 15 days of a loan month and a full month may be charged for 16 days or more of a loan month.
(2) If the debt is prepaid by the debtor, the refund check or draft shall be made payable to the debtor.
(3) The refund method must be set forth in the group policy, rider, individual policy and certificate of insurance.
(4) No refund of less than $10.00 need be made.
O.C.G.A. Secs. 33-2-9, 33-31-7, 33-31-9, 33-31-12.
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