HB 407 — Insurance; administrators; agents; insolvency pool; definitions and provisions
A BILL to be entitled an Act to amend Title 33 of the O.C.G.A., relating to insurance, so as to authorize the Commissioner to place administrators on probation and to provide penalties against administrators for certain violations; to provide for certain additional regulations of nonresident representatives who represent life insurers in certain military installations; to provide certain definitions; to provide for certain disclosures by counselors; to provide for certain exceptions; to provide for certain licensing for third party administrators; to provide certain procedures and standards for approval or rejection of such licenses; to provide for probationary licenses; to provide for certain bonds and insurance for administrators; to require administrators to be subject to certain examinations; to revise the provisions of law concerning the Georgia Insurers Insolvency Pool; to provide for certain definitions; to provide for applicability; to provide for related matters; to repeal conflicting laws; and for other purposes.
House Date Signed by Governor