Compilation of Rules and Regulations of the State of Georgia
Department 590 - RULES OF OFFICE OF SECRETARY OF STATE
Chapter 590-7 - COMMISSIONER OF CORPORATIONS
Subject 590-7-29 - STRUCTURED SETTLEMENT PURCHASE COMPANIES
Rule 590-7-29-.06 - Renewal of Structured Settlement Purchase Company Registration
Current through Rules and Regulations filed through September 25, 2023
(1) A structured settlement purchase company registration shall be effective for a term of one (1) year from the date of issuance; and, upon renewal application filed within sixty (60) days prior to the expiration of such term on a form to be furnished by the Secretary of State, the registration may be renewed for a like term. The fee for renewal is listed in the fee schedule published and maintained by the Secretary of State, and the fee payment, payable to the Secretary of State, shall accompany the application for renewal of the registration. Also accompanying the renewal application shall be a copy of the bond, letter of credit, or cash bond in compliance with the provisions of the Georgia Structured Settlement Protection Act (O.C.G.A. 51-12-71, et seq.).
(2) A structured settlement purchase company registration may be renewed for successive periods of one (1) year in like manner.
(3) The Secretary of State may send a renewal notification to a structured settlement purchase company registrant within sixty (60) days preceding the expiration of the registration for informational purposes. The renewal notification will be sent by mail or electronic methods, such as email, to the last known address of the registrant. Renewal notifications will not be sent to those registrants with expired, cancelled, inactive, or terminated registrations.
(4) A structured settlement purchase company registration expires if it is not renewed by its expiration date. An expired registration may not be renewed, reactivated, or reinstated. If the registrant wishes to continue to be registered as an active structured settlement purchase company in Georgia, then that registrant must apply for a new structured settlement purchase company registration.
O.C.G.A. § 51-12-73.
Original Rule entitled "Renewal of Structured Settlement Purchase Company Registration" adopted.F. Apr. 27, 2022; eff. May 17, 2022.