§ 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 […]
§ 33-5-22. 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 […]