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 120-2-71 - SALE OF ANNUITIES BY FINANCIAL INSTITUTIONS
Rule 120-2-71-.14 - Access to Records and Premises
Current through Rules and Regulations filed through March 20, 2024
(1) An insurance agent marketing annuities is responsible for maintaining such records as are necessary to enable the Department to determine that transactions under his or her license comply with all applicable requirements of the insurance code and for making such records available to the Georgia Insurance Department.
(2) If the licensed insurance agent markets other products, provides other services, or maintains other information regarding the customer which related to other than annuity transactions, all records relating to annuity transactions shall be separately maintained.
(3) The Commissioner of Insurance shall have access to the books and records relating to the sale of annuities irrespective of the physical location of such books and records.
(4) A contract or agreement regarding the sale of annuities between the financial institution and any independent insurance agent or other person conducting annuity transactions shall be in writing and available for inspection by the Georgia Insurance Department.
O.C.G.A. Secs. 33-2-9, 33-2-11, 33-3-23.
