HB410: HB410 Insurance, Department of; efficiency in the practices; provide

Georgia's insurance code currently requires insurers seeking a new charter, an amendment, a merger, or a dissolution to publish notice in a local newspaper for four weeks and get a probate judge to certify that publication before the Secretary of State can act. It also charges fees for licensing branch offices of insurance agencies and requires those branch offices to hold their own separate licenses. HB 410 removes the newspaper publication step for domestic stock and mutual insurers, fraternal benefit societies, and farmers' mutual fire insurance companies applying for charters, amendments, mergers, or surrenders. It repeals the fee provisions for branch agency licenses and changes how agency licenses are structured and renewed, moving from a fixed December 31 renewal date to a biennial renewal tied to each agency's origination month. It also revises the deposit amounts foreign insurers must maintain and requires insurance licenses to list the licensee's legal name. The changes take effect as soon as the Governor signs the bill or it becomes law without his signature.

• Removes the requirement that domestic stock and mutual insurers publish charter applications, amendments, and surrenders in a local newspaper for four weeks (O.C.G.A. §§ 33-14-5, 33-14-6, 33-14-8, 33-14-24, 33-14-25).
• Eliminates the same newspaper publication requirement for fraternal benefit societies forming, amending, or merging (O.C.G.A. §§ 33-15-40, 33-15-41, 33-15-44).
• Repeals fee provisions for branch agency licenses and restructures agency licensing so branch offices are covered under the agency's license rather than needing a separate one (O.C.G.A. § 33-23-3).
• Changes agency license renewal from a fixed December 31 deadline to a biennial renewal based on the agency's origination month.
• Revises the statutory deposit amounts foreign insurers must maintain with the state, adjusting the dollar thresholds by class of insurance (O.C.G.A. § 33-3-8).
• Requires every insurance license issued by the Department of Insurance to state the licensee's legal name (O.C.G.A. § 33-23-11).

Domestic stock and mutual insurance companies, fraternal benefit societies, farmers' mutual fire insurance companies, foreign and alien insurers doing business in Georgia, insurance agencies and their branch offices, and the Georgia Department of Insurance and Secretary of State's office, which process these filings.

Insurers and agencies would face fewer procedural steps and lower costs when forming, amending, merging, or dissolving, since they would no longer have to pay for weeks of newspaper publication or separate branch licensing fees. Agencies would also get a renewal schedule tied to their own timeline instead of a single statewide deadline.

• Section 1 revises O.C.G.A. § 33-3-8 to update the deposit amounts foreign insurers must maintain, capping combined deposits at $200,000 across all insurance classes.
• Section 2 repeals fee provisions for branch agency licenses under O.C.G.A. § 33-8-1.
• Sections 3 through 7 remove the newspaper publication and probate court certification steps from the charter, amendment, dissolution, and surrender processes for domestic stock and mutual insurers under Chapter 14.
• Sections 8 through 10 remove the same publication requirement for fraternal benefit societies forming, amending laws, or merging under Chapter 15.
• Section 11 revises the charter application contents required of farmers' mutual fire insurance companies under O.C.G.A. § 33-16-3.
• Section 12 changes agency licensing under O.C.G.A. § 33-23-3 so branch offices no longer need separate licenses and renewals occur biennially based on the agency's origination month rather than a fixed December 31 date.
• Section 13 requires insurance licenses to state the licensee's legal name under O.C.G.A. § 33-23-11.
• Section 14 makes the law effective immediately upon the Governor's approval or upon becoming law without his signature.

1. 2025-05-14Effective Date 2025-05-14
2. 2025-05-14Act 265
3. 2025-05-14House Date Signed by Governor (House)
4. 2025-04-10House Sent to Governor (House)
5. 2025-03-28Senate Passed/Adopted (Senate)
6. 2025-03-28Senate Third Read (Senate)
7. 2025-03-18Senate Read Second Time (Senate)
8. 2025-03-13Senate Committee Favorably Reported (Senate)

• Buddy DeLoach (R, HD-167)Primary sponsor
• Eddie Lumsden (R, HD-012)
• Bruce Williamson (R, HD-112)
• Marty Harbin (R, SD-016)

1. PassedHouse voteFebruary 26, 2025

   164 yea, 0 nay (3 not voting, 13 absent)

   Passage: House Vote #98

2. PassedSenate voteMarch 28, 2025

   47 yea, 0 nay (2 not voting, 7 absent)

   Passage: Senate Vote #329

• insurance regulation
• Department of Insurance
• insurance licensing
• fraternal benefit societies
• business filing requirements