33-49-6. Prohibition against employing unlicensed broker or individual employed by broker; annual statement of broker’s financial condition required.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

(a)
An insurer shall not engage the services of any person, firm, association, or corporation to act as a broker on its behalf unless such person is licensed as required by subsection (a) of Code Section 33-49-3.#
(b)
An insurer may not employ an individual who is employed by a broker with which it transacts business unless such broker is under common control with the insurer and subject to Chapter 13 of this title.#
(c)
The insurer shall annually obtain a copy of statements of the financial condition of each broker with which it transacts business.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

Code 1981, § 33-49-6, enacted by Ga. L. 1991, p. 1424, § 8.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t33-ch23-65-(v25)-2020-pdf.pdf, Volume V25, 2020 edition, page 962; merge action: carried; file SHA-256 1cdfeaa4b73e.