2025 Code of Georgia
Title 33 - Insurance (Chs. 1 — 66)
Chapter 22 - Insurance Premium Finance Companies (§§ 33-22-1 — 33-22-16)
Annotations
JUDICIAL DECISIONS
Reason for giving regulatory powers to Commissioner over premium finance companies. —Although a premium finance company performs much the same role as other finance companies, this role has been recognized by the state as forming an integral part of the insurer-insured relationship. The finance company is legally empowered to act as an agent for the insured, and to terminate a policy, much like an insurance company, if premium installments are not paid. If the state were free to regulate the terms of insurance contracts between the company and the insured, but not free to regulate the finance companies, the entire state regulatory structure could be frustrated. Georgia has recognized this and has therefore extended the Insurance Commissioner’s control to such companies. Cochran v. Paco, Inc., 409 F. Supp. 219, 1976 U. S. Dist. LEXIS 16129 (N. D. Ga. 1976).
Assignment of premium finance agreements. —Because a written security agreement between a creditor and premium finance company assigned to the creditor all of the company’s interest in premium financing agreements, the creditor had standing to bring suit on its right to the return of unearned premiums. Paulsen Street Investors v. EBCO Gen. Agencies, 224 Ga. App. 507, 481 S. E.2d 246.
Research References & Practice Aids
Administrative rules and regulations.Insurance premium finance companies, Official Compilation of the Rules and Regulations of the State of Georgia, Rules of Comptroller General, Commissioner of Insurance, Chapter 120-2-21.
RESEARCH REFERENCES Am. Jur. Pleading and Practice Forms.14B Am. Jur. Pleading and Practice Forms, Insurance, § 157 et seq.
Hierarchy Notes:O. C. G. A. Title 33
- § 33-22-1. Short title
- § 33-22-2. Definitions
- § 33-22-3. [Effective until January 1, 2027] Requirement of license for transaction of business; fees; change of address; examination of applicants
- § 33-22-3. [Effective January 1, 2027] Requirement of license for transaction of business; fees; change of address; examination of applicants
- § 33-22-4. Investigation of applicants for licenses; issuance or denial of license generally; hearing; grounds for issuance or denial
- § 33-22-5. Minimum capital requirements; deposit of securities or filing of bond
- § 33-22-6. [Effective until January 1, 2027] Grounds and procedure for revocation, suspension, or nonrenewal of license or imposition of probation or fine
- § 33-22-6. [Effective January 1, 2027] Grounds and procedure for revocation, suspension, or nonrenewal of license or imposition of probation or fine
- § 33-22-7. Maintenance of records of transactions by licensees; examination of records by Commissioner
- § 33-22-8. Form, contents, execution, and delivery of premium finance agreement; financing of additional premiums
- § 33-22-9. Service charges
- § 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
- § 33-22-12.1. Notice to insured by premium finance company; copy of premium finance agreement; notice of existence of power of attorney
- § 33-22-13. Procedure for cancellation of insurance contract upon default
- § 33-22-14. [Effective until January 1, 2027] Disposition of unearned premiums upon cancellation of insurance policy
- § 33-22-14. [Effective January 1, 2027] Disposition of unearned premiums upon cancellation of insurance policy
- § 33-22-14.1. Transmissions of electronic records subject to provisions of Uniform Electronic Transactions Act
- § 33-22-15. Promulgation of rules and regulations by Commissioner
- § 33-22-16. Applicability of chapter
