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 120-2-76 - SALE OF INSURANCE BY FINANCIAL INSTITUTIONS
Rule 120-2-76-.03 - Notification to Department of Intent to Sell Insurance In or Through Financial Institutions; Registration of Bank Holding Company with the Department of Banking and Finance

Universal Citation: GA Rules and Regs r 120-2-76-.03

Current through Rules and Regulations filed through March 20, 2024

(1) Prior to marketing insurance products, a financial institution shall provide notification to the Department of Insurance on Form GID 423FI and file a copy with the Department of Banking and Finance (DBF). Such report shall:

(a) Identify any financial institution location where an insurance agent will be physically present. Each branch must be identified specifically in the registration;

(b) Acknowledge that the financial institution has read and understands these rules; and

(c) Identify any insurance company and the policy form numbers of the insurance which will be marketed in association with the financial institution.

(2) An Amended Form shall be filed within 15 days after the end of the month in which it learns of each change or addition.

(3) Any financial institution with a holding company, which is marketing or selling insurance products in this state, shall register said holding company with the Department of Banking and Finance pursuant to DBF Regulation § 80-5-4-.02.

O.C.G.A. Secs. 33-2-9, 33-3-23.

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