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-.20 - Resident Surplus Lines Brokers
Current through Rules and Regulations filed through September 23, 2024
(1) In order to be eligible for a resident surplus lines broker license in accordance with Chapters 5 and 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.
(2) The applicant must be a licensed resident agent for property and casualty insurance. Failure to maintain a current property and casualty agent's license will result in the cancellation of the surplus lines broker license.
(3) The applicant must include with application a surplus lines broker bond in accordance with Rule 120-2-3-.18.
(4) The applicant must pass the required surplus lines examination and apply for licensure within 12 months from receiving the passing grade. Exceptions to the examination requirement will be made in the following circumstances:
(5) All continuing education requirements as outlined in Rule 120-2-3-.15 and all renewal requirements as outlined in Rule 120-2-3-.16 apply.
O.C.G.A §§ 33-2-9, 33-8-1, 33-23-26, 33-23-37, 33-23-44.
