§ 33-65-7. Use of Third-Party Consultants by Commissioner; Advisory Capacity; Confidentiality Standards; Free of Conflict of Interests
The Commissioner may retain, at the insurer’s expense, third-party consultants, including attorneys, actuaries, accountants, and other experts not otherwise a part of the Commissioner’s staff as may be reasonably necessary to assist the Commissioner in reviewing the corporate governance annual disclosure and related information or the insurer’s compliance with this chapter. Any persons retained under […]
§ 33-65-8. Failure to File Corporate Governance Annual Disclosures; Penalty
Any insurer failing, without just cause, to timely file the corporate governance annual disclosure as required in this chapter shall be required, after notice and hearing, to pay a penalty of $100.00 for each day’s delay, to be recovered by the Commissioner, and the penalty so recovered shall be paid into the general fund of […]
§ 33-65-9. Severability
If any provision of this chapter other than Code Section 33-65-6, or the application thereof to any person or circumstance, is held invalid, such determination shall not affect the provisions or applications of this chapter which can be given effect without the invalid provision or application, and to that end the provisions of this chapter, […]
§ 33-65-10. Application
The requirements of this chapter shall apply to all insurers domiciled in this state. History. Code 1981, § 33-65-10 , enacted by Ga. L. 2019, p. 1038, § 1/HB 367.
§ 33-65-11. First Filing Requirement
The first filing of the corporate governance annual disclosure shall be in 2020. History. Code 1981, § 33-65-11 , enacted by Ga. L. 2019, p. 1038, § 1/HB 367.
§ 33-63-4. Offering, Selling, or Providing to Borrowers Guaranteed Asset Protection Waivers
Guaranteed asset protection waivers may be offered, sold, or provided to borrowers in this state in compliance with this chapter. Guaranteed asset protection waivers may, at the option of the creditor, be sold for a single payment or may be offered with a monthly or periodic payment option. Notwithstanding any other provision of law, any […]
§ 33-63-5. Contractual Liability or Other Insurance Policies
Contractual liability or other insurance policies insuring guaranteed asset protection waivers must state the obligation of the insurer to reimburse or pay to the creditor any sums the creditor is legally obligated to waive under the guaranteed asset protection waivers issued by the creditor and purchased or held by the borrower. Coverage under a contractual […]
§ 33-63-6. Required Disclosures
Guaranteed asset protection waivers must disclose, as applicable, in writing and in clear, understandable language that is easy to read, the following: The name and address of the initial creditor and the borrower at the time of sale and the identity of any administrator if different from the creditor; The purchase price and the terms […]
§ 33-63-7. Cancellation
Guaranteed asset protection waiver agreements may be cancelable or noncancelable after the free look period. Guaranteed asset protection waivers must provide that if a borrower cancels a waiver within the free look period, the borrower will be entitled to a full refund of the purchase price, provided no benefits have been paid; or in the […]
§ 33-63-8. Exempted Commercial Transactions
Subsection (c) of Code Section 33-63-4 and Code Sections 33-63-6 and 33-63-9 shall not be applicable to a guaranteed asset protection waiver offered in connection with a lease or retail installment sale associated with a commercial transaction. History. Code 1981, § 33-63-8 , enacted by Ga. L. 2008, p. 1097, § 1/SB 470. Code Commission […]