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-.05 - Licensure of Agencies

Current through Rules and Regulations filed through June 27, 2024
(1) For the purposes of O.C.G.A. §
									33-23-3, a principal office of an
				agency shall be defined as the primary location of an agency or agency
				organization with multiple locations. An agency or organization with multiple
				locations seeking licensure must designate one agency location as the principal
				office of such organization. A branch office of an agency shall be defined as
				all other locations of the agency or agency organization.
(2) In order to be eligible for an agency
				license issued in accordance with Chapter 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.
(3) In accordance with O.C.G.A. §
									33-23-3, an application for an
				agency license must be accompanied by the appropriate form containing the
				designation of the principal office of the agency. For filings regarding an
				agency branch office location, the name and address of the agency's principal
				office location will be required.
(4) Each principal office and branch office
				shall remit the fee prescribed in O.C.G.A. §
									33-8-1 with the agency licensing
				application. Effective July 1, 2012, all new agency licenses will be issued on
				a biennial basis.
(5) Each agency
				location must have at least one licensed agent whose primary place of business
				is that agency location.
(6) A
				business entity must be licensed as an agency if it employs an individual who
				is required to be licensed as an agent pursuant to O.C.G.A. §
									33-23-1 et seq. and this
				Regulation, and such individual is selling, soliciting, or negotiating
				insurance on behalf of that business entity.
(7) The lines of authority of an agency
				cannot be greater than the lines of authority held by the agent or agents whose
				primary place of business is that agency location.
(8) An agency license does not eliminate the
				need for an agent license for any individual that sells, solicits, or
				negotiates insurance.
(9) License
				renewal:
(a) All agency licenses issued prior
				to July 1, 2012 expire on December 31 of the year issued; an agency is required
				to renew the license prior to expiration on forms prescribed by the
				Commissioner. The appropriate fee as prescribed in O.C.G.A. §
										33-8-1 must accompany the renewal
				application.
(b) The appropriate
				fee as prescribed in O.C.G.A. §
										33-8-1 must accompany the renewal
				application. Beginning July 1, 2012, upon renewal, all agency licenses will be
				converted to a biennial license.
(c) Agency may file a late renewal with
				appropriate late fee within 15 days of the expiration date of the agency
				license.