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-.45 - Rental Company License

Universal Citation: GA Rules and Regs r 120-2-3-.45

Current through Rules and Regulations filed through September 23, 2024

(1) Upon application to the Commissioner on the required form, a limited license for rental companies shall be issued provided that:

(a) The rental company meets the requirements for licensure under Chapter 23 of Title 33 of the Official Code of Georgia Annotated and this Regulation;

(b) Each applicant for licensure must remit the fee required by O.C.G.A. § 33-8-1.

(2) The applicant is not required to be sponsored by an insurer for licensure nor are they required to obtain a certificate of authority.

(3) No examination is required.

(4) The license is required for the principal location or home office only.

(5) The applicant is required to certify that all employees have received basic training as to the types of insurance products specified in O.C.G.A. § 33-23-12(c)(5).

(a) The instructor and prelicensing training program must be approved by the Department prior to making application for licensure;

(b) To request approval, the applicant must submit a course outline and instructor resume to the Department;

(c) In lieu of creating a specific course for their employees, applicants may require their employees to complete the property and casualty prelicensing course from an approved entity.

(6) All licenses issued prior to July 1, 2012 expire December 31 of the year issued. Effective July 1, 2012, all new licenses will be issued on a biennial basis. Licensees are required to renew the license prior to expiration on forms prescribed by the Commissioner and remit a fee required by O.C.G.A. § 33-8-1 for renewal of said license.

(a) As part of the renewal application, the licensee will certify that each employee has received two (2) hours of continuing education training relative to the types of insurance offered by said company;

(b) The instructor and continuing education courses must be approved by the Department prior to making application for renewal;

(d) In lieu of creating a specific course for their employees, applicants may require their employees to complete the two hours from approved property and casualty continuing education course provider.

O.C.G.A. Secs. 33-2-9, 33-23-12, 33-23-18, 33-23-44.

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