§ 33-22-10. Delinquency Charges; Returned Check Fees
A premium finance agreement may provide for the payment by the insured of a delinquency charge ranging in amount from $1.50 to a maximum of 5 percent of the delinquent payment on any payment which is in default for a period of five days or more. If the default results in the cancellation of any […]
§ 33-22-11. Necessity of Filing of Premium Finance Agreement
No filing of the premium finance agreement shall be necessary to perfect the validity of the agreement as a secured transaction as against creditors, subsequent purchasers, pledgees, encumbrancers, successors, or assigns. History. Ga. L. 1969, p. 561, § 14.
§ 33-22-12. Notification of Insurer by Finance Company of Existence of Premium Finance Agreement
Any premium finance company which enters into a premium finance agreement under this chapter shall notify the insurer whose premiums are being financed of the existence of the agreement. A draft of the premium finance company made payable directly to the order of the insurer of the premium due such insurer for a policy or […]
§ 33-22-12.1. Notice to Insured by Premium Finance Company; Copy of Premium Finance Agreement; Notice of Existence of Power of Attorney
Whenever a premium finance company executes a premium finance agreement relative to a personal or family-type policy of insurance, it shall deliver to the insured or send by electronic means or mail to the insured at his or her address shown in the agreement a copy of the agreement and a written notice which clearly […]
§ 33-22-13. Procedure for Cancellation of Insurance Contract Upon Default
When a premium finance agreement contains a power of attorney enabling the premium finance company to cancel any insurance contract or contracts listed in the agreement, the insurance contract or contracts shall not be canceled by the premium finance company unless the cancellation is effectuated in accordance with this Code section. Not less than ten […]
§ 33-22-14. Disposition of Unearned Premiums Upon Cancellation of Insurance Policy
Whenever an insurance policy is canceled and the premiums have been paid by an insurance premium finance company on behalf of the insured, if the insurer has been notified of the existence of the insurance premium finance agreement as required in Code Section 33-22-12, the insurer shall return whatever unearned premiums are due to the […]
§ 33-22-14.1. Transmissions of Electronic Records Subject to Provisions of Uniform Electronic Transactions Act
Any use or transmission of electronic records or electronic signatures for purposes of this chapter shall be subject to the provisions of Chapter 12 of Title 10, the “Uniform Electronic Transactions Act.” History. Code 1981, § 33-22-14.1 , enacted by Ga. L. 2002, p. 1192, § 9; Ga. L. 2009, p. 698, § 2/HB 126.
§ 33-22-15. Promulgation of Rules and Regulations by Commissioner
The Commissioner may make and enforce such reasonable rules and regulations as may be necessary in making effective this chapter, but the rules and regulations shall not be contrary to nor inconsistent with this chapter. History. Ga. L. 1969, p. 561, § 8.
§ 33-22-1. Short Title
This chapter shall be known and may be cited as the “Insurance Premium Finance Company Act.” History. Ga. L. 1969, p. 561, § 1.