§ 33-60-5. Required Notice and Acknowledgement
In each sale of an alternative health benefit plan, the insurer shall provide to each proposed individual group member or individual policyholder a notice and an acknowledgment at the beginning of the application for the alternative health benefit plan containing the following language in boldface type: “You have the option to choose this Small Business […]
§ 33-59-9. Required Written Disclosures; Consequence for Failure to Provide
The provider or broker shall provide in writing, in a separate document that is signed by the owner, the following information no later than the date of the application for a life settlement contract: The fact that possible alternatives to life settlement contracts exist, including, but not limited to, accelerated benefits offered by the issuer […]
§ 33-61-1. Definitions
As used in this chapter, the term: “Automobile club” or “club” means any person, who in consideration of fees, dues, periodic payments, or other specifically stated charges, promises its members to provide automobile club services. “Automobile club services” shall include, but not be limited to, the assumption of or reimbursement of the expense or a […]
§ 33-59-10. Lender-Financed Premiums Using Policy as Collateral; Disclosures and Certifications
In addition to other questions an insurance carrier may lawfully pose to a life insurance applicant, insurance carriers may inquire in the application for insurance whether the proposed owner intends to pay premiums with the assistance of financing from a lender that will use the policy as collateral to support the financing. If, as described […]
§ 33-61-2. Automobile Club Performing Services
An automobile club performing services as defined in this chapter shall not be subject to any laws respecting insurance companies of any class, kind, or character in this state or regulation under such laws because of performance of those services. History. Code 1981, § 33-61-2 , enacted by Ga. L. 2006, p. 331, § 1/HB […]
§ 33-59-11. Required Documents and Information; Confidentiality; Seller’s Right to Rescind; Escrow Proceedings; Failure to Tender Consideration; Limitation on Contracts With the Insured for the Purpose of Determining the Insured’s Health Status
A provider entering into a life settlement contract, wherein the insured is terminally or chronically ill, shall first obtain: If the owner is the insured, a written statement from a licensed attending physician that the owner is of sound mind and under no constraint or undue influence to enter into a settlement contract; and A […]
§ 33-62-1. Short Title
This chapter shall be known and may be cited as the “Property and Casualty Actuarial Opinion Law.” History. Code 1981, § 33-62-1 , enacted by Ga. L. 2008, p. 1090, § 4/SB 471.
§ 33-59-12. Determining Governing Law When Multiple Owners
If there is more than one owner on a single policy, and the owners are residents of different states, the life settlement contract shall be governed by the law of the state in which the owner having the largest percentage ownership resides or, if the owners hold equal ownership, the state of residence of one […]
§ 33-62-2. Submission of Annual Statement of Actuarial Opinion of Appointed Actuary by Property and Casualty Insurance Companies Licensed to Do Business in Georgia
Every property and casualty insurance company doing business in this state, unless otherwise exempted by the domiciliary commissioner, shall annually submit the opinion of an appointed actuary entitled “Statement of Actuarial Opinion.” This opinion shall be filed in accordance with rules and regulations promulgated by the Commissioner regarding property and casualty annual statement instructions. Every […]
§ 33-59-13. Unlawful Activities Deemed Fraudulent Life Settlement Act
It shall be unlawful for any person to: Enter into a life settlement contract if such person knows or reasonably should have known that the life insurance policy was obtained by means of a false, deceptive, or misleading application for such policy; Engage in any transaction, practice, or course of business if such person knows […]