§ 33-5-21.1. Application of Chapter 9 or Code Section 33-24-9
Insurance placed in accordance with this article shall not be subject to the provisions of Chapter 9 of this title or Code Section 33-24-9. History. Code 1981, § 33-5-21.1 , enacted by Ga. L. 1997, p. 1581, § 1; Ga. L. 1997, p. 683, § 1. Editor’s notes. Ga. L. 1997, p. 1581, § 1 […]
§ 33-5-22. Licensing of Surplus Line Brokers Generally
A surplus lines broker shall be licensed in accordance with Code Section 33-23-37. History. Code 1933, § 56-618, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1965, p. 248, § 1; Ga. L. 1973, p. 499, § 1; Ga. L. 1985, p. 1239, § 1; Ga. L. 1988, p. 1519, § 1; […]
§ 33-5-23. Revocation or Suspension of Broker’s License
The Commissioner shall revoke any surplus line broker’s license: If the broker fails to file his quarterly affidavit or to remit the tax as required by law; If the broker fails to maintain an office in this state, or to keep records, or to allow the Commissioner to examine his records as required by law; […]
§ 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.
§ 33-5-25. Broker to Ascertain Financial Condition of Unauthorized Insurer Prior to Placement of Insurance Therewith; Placement of Insurance With Foreign or Alien Insurers
The broker shall ascertain the financial condition of the unauthorized insurer before placing insurance with the unauthorized insurer and shall not place surplus line insurance with any insurer who does not meet, according to current available reliable financial information, the requirements provided in subsection (b) of this Code section. The broker shall so insure only: […]
§ 33-5-26. Endorsement of Insurance Contract by Broker
Every insurance contract procured and delivered as a surplus line coverage shall be initialed by or bear the name of the surplus line broker who procured it and shall have printed or stamped upon it the following: “This contract is registered and delivered as a surplus line coverage under the Surplus Line Insurance Law, O.C.G.A. […]
§ 33-5-27. Issuance to Insured by Broker of Evidence of Insurance; Issuance of Substitute Certificate or Endorsement; Delivery of Policy to Insured; Penalties
Upon placing a surplus line coverage, the broker shall promptly issue and deliver to the insured evidence of the insurance consisting either of the policy as issued by the insurer or, if the policy is not then available, the surplus line broker’s certificate. The certificate shall be executed by the broker and shall show the […]
§ 33-5-28. Maintenance by Broker of Records of Policies Written or Renewed
Each licensed surplus line broker shall keep in his office a separate account of each policy written or renewed showing the exact amount of insurance placed, the name and post office address of the insured, the name and home address of the insurer, the location of the insured property, the gross premium charged therefor, the […]
§ 33-5-29. Filing of Quarterly Affidavits by Surplus Line Brokers; Filing of Reports of Affairs and Operations by Brokers
Each surplus line broker shall file with the Commissioner, on a quarterly basis, an affidavit executed by the surplus line broker setting forth the facts referred to in Code Section 33-5-21. Such affidavit shall furnish certificate or cover note number, name of insured, the amount of the premium, the tax paid thereon, and any other […]
§ 33-5-30. Validity and Enforceability of Contracts Procured as Surplus Line Insurance
Insurance contracts procured as surplus line coverage from unauthorized insurers in accordance with this chapter shall be fully valid and enforceable as to all parties and shall be given recognition in all matters and respects to the same effect as like contracts issued by authorized insurers. History. Code 1933, § 56-617, enacted by Ga. L. […]