Any premium finance company which enters into a premium finance agreement under this chapter shall notify the insurer whose premiums are being financed of the existence of the agreement. A draft of the premium finance company made payable directly to the order of the insurer of the premium due such insurer for a policy or policies financed by such premium finance company shall constitute sufficient notice under this Code section. The insurer shall not be required to comply with Code Sections 33-22-13 and 33-22-14 until notification of the existence of the insurance premium finance agreement has been furnished to the insurer in accordance with this Code section.
History. Ga. L. 1975, p. 1234, § 5; Ga. L. 1976, p. 1564, § 2; Ga. L. 1984, p. 1345, § 1.
Structure Georgia Code
Chapter 22 - Insurance Premium Finance Companies
§ 33-22-5. Minimum Capital Requirements; Deposit of Securities or Filing of Bond
§ 33-22-10. Delinquency Charges; Returned Check Fees
§ 33-22-11. Necessity of Filing of Premium Finance Agreement
§ 33-22-12. Notification of Insurer by Finance Company of Existence of Premium Finance Agreement
§ 33-22-13. Procedure for Cancellation of Insurance Contract Upon Default
§ 33-22-14. Disposition of Unearned Premiums Upon Cancellation of Insurance Policy
§ 33-22-15. Promulgation of Rules and Regulations by Commissioner