Georgia Laws, Rules, and Regulations Pertinent to Life, Accident, and Sickness Insurance
A Georgia agency wishes to pay a share of commission to an unlicensed person who introduced a client. What does section 33-23-4 address?
Answer and explanation
Answer: C. Section 33-23-4 covers licensing requirements together with restrictions on the payment or receipt of commissions, which is the provision such an arrangement runs into. The section treats the matter as regulated rather than private, and disclosure to the client is not the mechanism it uses.Source: O.C.G.A. § 33-23-4 — 33-23-4, Commission restrictions
More georgia laws, rules, and regulations pertinent to life, accident, and sickness insurance questions
- A Georgia agent makes the same false claim about a competitor's finances, but only in conversation. Does section 33-6-4(3) still apply?
- A Georgia claimant asks why a claim was denied and receives no explanation. Which practice is engaged?
- A Georgia claimant requests the forms needed to file a claim and receives nothing for three weeks. Which requirement has the insurer missed?
- A Georgia insurer charges a higher rate to an applicant whose health history places him in a different underwriting class. Is that unfair discrimination?
- A Georgia insurer does not itself set the differing rates, but knows its agents apply them within one class. Is the unfair discrimination provision engaged?
- A Georgia insurer has no shares to issue and cannot raise capital by selling equity. Which form is it?
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