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 120-2-3 - REGULATIONS REGARDING AGENTS, SUBAGENTS, COUNSELORS, ADJUSTERS, SURPLUS LINES BROKERS, AND AGENCIES
Rule 120-2-3-.05 - Licensure of Agencies

Universal Citation: GA Rules and Regs r 120-2-3-.05

Current through Rules and Regulations filed through September 23, 2024

(1) For the purposes of O.C.G.A. § 33-23-3, a principal office of an agency shall be defined as the primary location of an agency or agency organization with multiple locations. An agency or organization with multiple locations seeking licensure must designate one agency location as the principal office of such organization. A branch office of an agency shall be defined as all other locations of the agency or agency organization.

(2) In order to be eligible for an agency license issued in accordance with Chapter 23 of Title 33 of the Official Code of Georgia Annotated and this Regulation, the applicant must make proper application to the Commissioner and pay all required fees.

(3) In accordance with O.C.G.A. § 33-23-3, an application for an agency license must be accompanied by the appropriate form containing the designation of the principal office of the agency. For filings regarding an agency branch office location, the name and address of the agency's principal office location will be required.

(4) Each principal office and branch office shall remit the fee prescribed in O.C.G.A. § 33-8-1 with the agency licensing application. Effective July 1, 2012, all new agency licenses will be issued on a biennial basis.

(5) Each agency location must have at least one licensed agent whose primary place of business is that agency location.

(6) A business entity must be licensed as an agency if it employs an individual who is required to be licensed as an agent pursuant to O.C.G.A. § 33-23-1 et seq. and this Regulation, and such individual is selling, soliciting, or negotiating insurance on behalf of that business entity.

(7) The lines of authority of an agency cannot be greater than the lines of authority held by the agent or agents whose primary place of business is that agency location.

(8) An agency license does not eliminate the need for an agent license for any individual that sells, solicits, or negotiates insurance.

(9) License renewal:

(a) All agency licenses issued prior to July 1, 2012 expire on December 31 of the year issued; an agency is required to renew the license prior to expiration on forms prescribed by the Commissioner. The appropriate fee as prescribed in O.C.G.A. § 33-8-1 must accompany the renewal application.

(b) The appropriate fee as prescribed in O.C.G.A. § 33-8-1 must accompany the renewal application. Beginning July 1, 2012, upon renewal, all agency licenses will be converted to a biennial license.

(c) Agency may file a late renewal with appropriate late fee within 15 days of the expiration date of the agency license.

(10) A licensed entity under Chapter 3 of Title 7 of the Official Code of Georgia Annotated shall be deemed licensed under this Regulation.

(11) The license issued in accordance with this Rule must be available for public inspection in the agency location.

O.C.G.A. §§ 33-2-9, 33-8-1, 33-23-1, 33-23-2, 33-23-3, 33-23-44.

Disclaimer: These regulations may not be the most recent version. Georgia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.