§ 33-5-44. Notice; Report
In the event the Governor enters into a cooperative agreement, compact, or reciprocal agreement with another state or states as authorized under this part, notice of such action shall be communicated to the chairperson of the House Committee on Insurance and the chairperson of the Senate Insurance and Labor Committee. The Commissioner shall thereafter annually […]
§ 33-5-32. Penalty for Failure to File Quarterly Affidavit or Remit Tax Within Time Prescribed by Law; Collection and Disposition of Penalty
If any surplus line broker fails to file his or her quarterly affidavit or fails to remit the tax as provided by law within 30 days after the tax is due, he or she shall be liable for a penalty of either $25.00 for each day of delinquency commencing after the expiration of the 30 […]
§ 33-5-33. Filing of Report by Persons Procuring Insurance With Unauthorized Insurers; Levy, Collection, and Disposition of Tax by Persons Procuring Such Insurance
Every insured who in this state procures or causes to be procured or continues or renews insurance with an unauthorized insurer upon a subject of insurance resident, located, or to be performed both within and outside this state, other than insurance procured through a surplus line broker pursuant to this article or exempted from this […]
§ 33-5-34. Venue of Actions Against Unauthorized Insurers Issuing Surplus Line Policies; Service of Process; Filing of Pleading by Insurer
An action shall be brought against any unauthorized insurer under any contract issued by it as a surplus line contract pursuant to this chapter in the superior court of the county in which the cause of action arose. Every unauthorized insurer issuing or delivering a surplus line policy through a surplus line broker in this […]
§ 33-5-35. Applicability of Article
This article controlling the placing of insurance with unauthorized insurers shall not apply to reinsurance or to the following insurance when so placed by licensed agents or brokers of this state: Insurance on property or operation of railroads engaged in interstate commerce; or Insurance of aircraft owned or operated by manufacturers of aircraft or operated […]
§ 33-5-40. Legislative Findings
The General Assembly finds the federal Nonadmitted and Reinsurance Reform Act of 2010, which was incorporated into the federal Dodd-Frank Wall Street Reform and Consumer Protection Act, P.L. 111-203, provides that only an insured’s home state may require premium tax payment for nonadmitted insurance and authorizes states to enter into a compact or otherwise establish […]
§ 33-5-41. Governor Authorized to Enter Into Cooperative Agreement, Compact, or Reciprocal Agreement for Collection of Insurance Premium Taxes
The Governor, on behalf of the state, advised by and in consultation with the Commissioner, is authorized to enter into a cooperative agreement, compact, or reciprocal agreement with another state or states for the purpose of the collection of insurance premium taxes imposed by Code Sections 33-5-31 and 33-5-33. History. Code 1981, § 33-5-41 , […]
§ 33-5-42. Agreement to Substantially Follow Form of Model Surplus Lines Insurance Multi-State Compliance Compact
The cooperative agreement, compact, or reciprocal agreement for the purpose of the collection of insurance premiums imposed by Code Section 33-5-31 shall substantially follow the form of the model Surplus Lines Insurance Multi-State Compliance Compact, also known as SLIMPACT-lite, created by the National Conference of Insurance Legislators or the model Nonadmitted Insurance Multi-State Agreement, also […]
§ 33-5-43. Governor to Select Agreement Providing Best Financial Advantage
The Governor with the consultation and advice of the Commissioner shall select the agreement, if any, that provides the best financial advantage to the state. In determining which agreement, if any, provides the best financial advantage to the state, the Governor with the consultation and advice of the Commissioner shall consider the impact on the […]
§ 33-5-24. Acceptance and Placement of Business by Surplus Line Brokers Generally
A licensed surplus line broker may accept and place surplus line business for any insurance agent or broker licensed in this state for the kind of insurance involved and may compensate such agent or broker for the surplus line business. History. Code 1933, § 56-619, enacted by Ga. L. 1960, p. 289, § 1.