Rules and Regulations of the State of Georgia
 

JavaScript Is Not Enabled alert

You need to have JavaScript enabled in your browser to utilise the full functionality of this website.

How to enable JavaScript in your browser






firefox Mozilla Firefox

  1. In the address bar, type about:config and press Enter.
  2. Click "I'll be careful, I promise" if a warning message appears.
  3. In the search box, search for javascript.enabled
  4. Toggle the "javascript.enabled" preference (right-click and select "Toggle" or double-click the preference) to change the value from "false" to "true".
  5. Click on the "Reload current page" button of the web browser to refresh the page.
  • 1. In the address bar, type about:config and press Enter.
  • 2. Click "I'll be careful, I promise" if a warning message appears.
  • 3. In the search box, search for javascript.enabled
  • 4. Toggle the "javascript.enabled" preference (right-click and select "Toggle" or double-click the preference) to change the value from "false" to "true".
  • 5. Click on the "Reload current page" button of the web browser to refresh the page.




ie Internet Explorer

  1. On web browser menu click "Tools" icon and select "Internet Options".
  2. In the "Internet Options" window select the "Security" tab.
  3. On the "Security" tab click on the "Custom level..." button.
  4. When the "Security Settings - Internet Zone" dialog window opens, look for the "Scripting" section.
  5. In the "Active Scripting" item select "Enable".
  6. When the "Warning!" window pops out asking "Are you sure you want to change the settings for this zone?" select "Yes".
  7. In the "Internet Options" window click on the "OK" button to close it.
  8. Click on the "Refresh" button of the web browser to refresh the page.
  • 1. ie9 01
  • 2. ie9 02
  • 3. ie9 03
  • 4. ie9 04
  • 5. ie9 05
  • 6. ie9 06
  • 7. ie9 07
  • 8. ie9 08
 Internet Explorer < 9
  1. On web browser menu click "Tools" and select "Internet Options"
  2. In the "Internet Options" window select the "Security" tab.
  3. On the "Security" tab click on the "Custom level..." button.
  4. When the "Security Settings - Internet Zone" dialog window opens, look for the "Scripting" section.
  5. In the "Active Scripting" item select "Enable".
  6. When the "Warning!" window pops out asking "Are you sure you want to change the settings for this zone?" select "Yes".
  7. In the "Internet Options" window click on the "OK" button to close it.
  8. Click on the "Refresh" button of the web browser to refresh the page.
  • 1. ie 01
  • 2. ie 02
  • 3. ie 03
  • 4. ie 04
  • 5. ie 05
  • 6. ie 06
  • 7. ie 07
  • 8. ie 08




chrome Google Chrome

  1. On the web browser menu click on the "Customize and control Google Chrome" and select "Settings".
  2. In the "Settings" section click on the "Show advanced settings..."
  3. Under the the "Privacy" click on the "Content settings...".
  4. When the dialog window opens, look for the "JavaScript" section and select "Allow all sites to run JavaScript (recommended)".
  5. Click on the "OK" button to close it.
  6. Close the "Settings" tab.
  7. Click on the "Reload this page" button of the web browser to refresh the page.
  • 1. chrome 01
  • 2. chrome 02
  • 3. chrome 03
  • 4. chrome 04
  • 5. chrome 05
  • 6. chrome 06
  • 7. chrome 07




opera Opera

  • 1. a) Click on "Menu", hover mouse on the "Settings" then hover mouse on the "Quick preferences" and mark the "Enable Javascript" checkbox.
  • 1. b) If "Menu bar" is shown click on the "Tools", hover mouse on the "Quick preferences" and mark the "Enable Javascript" checkbox.
1. a) opera10 a 1. b) opera10 b




safari Apple Safari

  1. On the web browser menu click on the "Edit" and select "Preferences".
  2. In the "Preferences" window select the "Security" tab.
  3. In the "Security" tab section "Web content" mark the "Enable JavaScript" checkbox.
  4. Click on the "Reload the current page" button of the web browser to refresh the page.
  • 1. safari 01
  • 2. safari 02
  • 3. safari 03
  • 4. safari 04
<xmp>.</xmp> <form name="form1" method="post" action="120-2-26?urlRedirected=yes&amp;data=admin&amp;lookingfor=120-2-26" id="form1"> <input type="hidden" name="__VIEWSTATE" id="__VIEWSTATE" value="/wEPDwUKLTY5ODkwOTM2Nw8WAh4Ec3BhbQIOFgJmD2QWAgIFDw8WAh4EVGV4dAUFNyArIDdkZGRlhdjvqJkV8x2oTlYu9VaAFnNxFA==" /> <input type="hidden" name="__VIEWSTATEGENERATOR" id="__VIEWSTATEGENERATOR" value="EEBB6393" /> <input type="hidden" name="__EVENTVALIDATION" id="__EVENTVALIDATION" value="/wEWCAKV5/itCwLniKOhBALV5cpNAoa5iIEFAoznisYGAsrv5u0MAsrv4u0MAsrv3u0MZX0gYTK0WjwGL2eTavBtqDaRR6Q=" /> <div class='popup'> <div class='cnt223'> <div style="margin-bottom:6px;"> <img alt="Rules and Regulations of the State of Georgia" src="/images/new.gif"/> </div> <div class="header"> Terms and Conditions of Agreement for Access to Rules and Regulations of the State of Georgia Website </div> <div class="scroll"> <p>(Note: certain features of this site have been disabled for the general public to prevent digital piracy. If you are an entitled government entity pursuant the Georgia Administrative Procedures Act, <a target="_new" href="http://links.casemakerlegal.com/states/GA/books/Code_of_Georgia/browse?ci=25id=gasos&amp;codesec=50-13-7&amp;title=50&amp;#50-13-7(d)">O.C.G.A.§ 50-13-7(d)</a> contact the State of Georgia's Administrative Procedures Division at 678-364-3785 to enable these features for your location.)</p> <p>To access this website, you must agree to the following: </p> <p> These terms of use are a contract between you and/or your employer (if any), and Lawriter, LLC. </p> <p> You agree that you will not copy, print, or download anything from this website for any commercial use. </p> <p> You agree not to use any web crawler, scraper, or other robot or automated program or device to obtain data from the website.</p> <p> You agree that you will not sell, will not license, and will not otherwise make available in exchange for anything of value, anything that you download, print, or copy from this site.</p> <p> You agree that you will not copy, print, or download any portion of the regulations posted on this site exceeding a single chapter of regulations for sale, license, or other transfer to a third party, except that you may quote a reasonable portion of the regulations in the course of rendering professional advice.</p> <p> If you violate this agreement, or if you access or use this website in violation of this agreement, you agree that Lawriter will suffer damages of at least $20,000. </p> <p> THIS WEBSITE AND ITS CONTENT ARE PROVIDED "AS IS." THE STATE OF GEORGIA AND LAWRITER EXPRESSLY DISCLAIM ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT AND ARE NOT LIABLE TO ANY PERSON FOR ANY ERRORS IN INACCURACIES CONTAINED IN THIS WEBSITE. </p> <p> If you accept these terms enter the information below and click “I AGREE”.</p> </div> <table border="0" style="width: 810px"> <tr> </tr> <tr> <td style="vertical-align: text-top; width: 243px;"> Full Name:</td> <td style="width: 532px; vertical-align:super;"> <input name="firstName" type="text" id="firstName" class="txt" /> <span id="lbl_fname"><font color="Red"></font></span> </td> </tr> <tr><td style="width: 243px"> Human verification: <b> <span id="lblStopSpam">7 + 7</span>&nbsp;= </b></td><td style="width: 532px"> <input name="captcha" type="text" id="captcha" class="txt" /> <span id="lbl_captcha"><font color="Red"></font></span> &nbsp; <input name="sum" type="hidden" id="sum" value="14" /> </td></tr> </table> <input type="submit" name="Button1" value="I AGREE" id="Button1" disabled="disabled" /> <span id="alrtmsg"><font color="Red"></font></span> <input name="v1" type="hidden" id="v1" /> <input name="v2" type="hidden" id="v2" /> <input name="v3" type="hidden" id="v3" /> <p>Privacy Policy: the above information is for internal use only as related to this agreement and will not be sold or distributed.</p> </div> </div> </form> <html> <head runat="server"> <title>GA - GAC</title> <link href="_files/main.css" media="all" rel="Stylesheet" type="text/css" /> <link href="_files/treeview_old.css" media="all" rel="Stylesheet" type="text/css" /> <link href="/_files/popup.css" media="all" rel="stylesheet" type="text/css" /> <script type="text/javascript" src="/_files/treeview.js"></script> <script type="text/javascript" src="/_files/jquery-1.8.0.min.js"></script> <script type="text/javascript" src="/_files/jquery-1.10.2.js"></script> <script type="text/javascript" src="/_files/popup.js"></script> <script type="text/javascript" src="http://code.jquery.com/jquery-1.8.2.js"></script> <script type="text/javascript" src="https://ajax.googleapis.com/ajax/libs/jquery/1.8/jquery.min.js" /> <script type="text/javascript" src="/_files/jquery.popup.js"></script> <script type="text/javascript" src="/_files/jquery.popup.min.js"></script> <script type="text/javascript" src="/_files/ValidateForm.js"></script> <script src="https://code.jquery.com/jquery-1.11.3.js"></script> <link href="/_files/enablejs.css" rel="Stylesheet" type="text/css" /> <link href="/_files/forJavascript.css" rel="Stylesheet" type="text/css" /> <style type="text/css"> .collapse{background-image:url('/images/expcoll_right.png');} .expand{background-image:url('/images/expcoll_down.png');} </style> <script type="text/javascript"> $(document).ready(function(){ $("#History-parent").click(function(){ $("#History-Childs").toggle(); if ($('#History-parent img').hasClass('expand')) { $('#History-parent img').addClass('collapse'); $('#History-parent img').removeClass('expand'); $('#History-parent img').attr('src', '/images/expcoll_right.png'); } else { $('#History-parent img').removeClass('collapse'); $('#History-parent img').addClass('expand'); $('#History-parent img').attr('src', '/images/expcoll_down.png'); } }); $("#History-Childs").hide(); var tocnode=document.getElementById('toc-children'); if (tocnode != null) { if(tocnode.childNodes.length != 0) { document.getElementById("doc-content").style.width="72%"; document.getElementById("toc").style.width="21%"; document.getElementById("toc").style.padding="10px"; } else { document.getElementById('toc').style.display="none"; } } }); function fnsetRDVal(id) { if (id=="y") { document.getElementById("y").value="yes" document.getElementById("n").value="" } else { document.getElementById("n").value="no" document.getElementById("y").value="" } } </script> <script type="text/javascript"> function TermsCon() { var overlay = $('<div id="overlay"></div>'); overlay.show(); overlay.appendTo(document.body); $('.popup2').show(); $('#btnAgree').click(function () { $('.popup2').hide(); $("#overlay").hide(); overlay.appendTo(document.body).remove(); }); $("#btnprint").click(function () { var contents = $("#popupterms").html(); var frame1 = $('<iframe />'); frame1[0].name = "frame1"; frame1.css({ "position": "absolute", "top": "-1000000px" }); $("body").append(frame1); var frameDoc = frame1[0].contentWindow ? frame1[0].contentWindow : frame1[0].contentDocument.document ? frame1[0].contentDocument.document : frame1[0].contentDocument; frameDoc.document.open(); //Create a new HTML document. frameDoc.document.write('<html><head>'); frameDoc.document.write('</head><body>'); //Append the external CSS file. frameDoc.document.write('<link href="_files/popup.css" rel="stylesheet" type="text/css" />'); //Append the DIV contents. frameDoc.document.write(contents); frameDoc.document.write('</body></html>'); frameDoc.document.close(); setTimeout(function () { window.frames["frame1"].focus(); window.frames["frame1"].print(); frame1.remove(); }, 500); }); // alert("Because you do not agree to the Terms and Conditions for Access, you must cease accessing and/or using this website and destroy all material obtained from this website without your agreement."); // $('.popup2').show(); } </script> </head> <body> <div class="popup2"> <div class='cnt2231' id="popupterms"> <div style="margin-bottom: 6px;"> <img alt="Rules and Regulations of the State of Georgia" src="/images/new.gif" /> </div> <div class="header"> Terms and Conditions of Agreement for Access to Rules and Regulations of the State of Georgia Website </div> <div class="scroll" style="height:100%;"> <p>(Note: certain features of this site have been disabled for the general public to prevent digital piracy. If you are an entitled government entity pursuant the Georgia Administrative Procedures Act, <a target="_new" href="http://links.casemakerlegal.com/states/GA/books/Code_of_Georgia/browse?ci=25id=gasos&amp;codesec=50-13-7&amp;title=50&amp;#50-13-7(d)">O.C.G.A.§ 50-13-7(d)</a> contact the State of Georgia's Administrative Procedures Division at 678-364-3785 to enable these features for your location.)</p> <p>To access this website, you must agree to the following: </p> <p> These terms of use are a contract between you and/or your employer (if any), and Lawriter, LLC. </p> <p> You agree not to use any web crawler, scraper, or other robot or automated program or device to obtain data from the website. </p> <p> You agree that you will not sell or license anything that you download, print, or copy from this website.</p> <p> THIS WEBSITE AND ITS CONTENT ARE PROVIDED "AS IS." THE STATE OF GEORGIA AND LAWRITER EXPRESSLY DISCLAIM ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT AND ARE NOT LIABLE TO ANY PERSON FOR ANY ERRORS IN INACCURACIES CONTAINED IN THIS WEBSITE. </p> <p> By accessing and/or using this website, you agree to the terms and conditions above. If you do not agree to the terms and conditions above, you must cease accessing and/or using this website and destroy all material obtained from this website without your agreement. </p> </div> </div> <div class="modal-footer"> <input type="button" name="btnAgree" value="Close" id="btnAgree" class="btn-blue noprint" /> <input type="button" name="btnprint" value="Print" id="btnprint" class="btn-blue noprint" /> </div> </div> </div> <div id="main" class="noprint"> <!--class="noprint"--> <div id="header" class="noprint"> <div class="container"> <div class="terms"> NOTICE OF TERMS OF USE OF THIS WEBSITE. By accessing and/or using this website, you agree to the following <a onclick="javascript:TermsCon();" style="text-decoration: underline">terms and conditions.</a> </div> <div class="content"> <div id="logo"> <!--<a href="../" title="Home"><img alt="Rules and Regulations of the State of Georgia" src="/images/garr_logo.gif" /></a>--> <!--<span id="georgia"><a href="/">Rules and Regulations of the State of Georgia</a></span>--> <a href="../" title="Home"><img alt="Rules and Regulations of the State of Georgia" src="/images/ga_rulesreg.gif" /></a> </div> <div id="links"> <a href="../home.aspx" class="constant" title="home">Home</a> | <a href="../gac/" class="constant" title="home">Browse</a> | <a href="../help.aspx" class="constant" title="help">Help</a> | <a href="http://sos.ga.gov/index.php/General/rules_and_regulations" target="_blank" onclick="void(0);" class="constant" title="Georgia SOS">Go to Georgia SOS</a> </div> </div> </div> <div class="sidebar"> <div id="full-text-search"> <form class="searchform" action="../search.aspx" method="get" onsubmit="javascript:return fncheckqts();"> <span class="searchHierarchy" style="margin-right:10px;" > <em class="mnemonic">H</em>ierarchy Search:&nbsp; <input onclick="fnsetRDVal(id);" id="y" checked="checked" type="radio" name="hierarchysearch" value="yes" />&nbsp;Y <input onclick="fnsetRDVal(id);" id="n" type="radio" name="hierarchysearch" value="" />&nbsp;N </span> <input id="query" name="query" class="searchfield" value="Search GA R&R...." onfocus="if (this.value == 'Search GA R&R....') {this.value = '';}" onblur="if (this.value == '') {this.value = 'Search GA R&R....';}" type="text" /> <input class="searchbutton" value="Go" type="submit" /> <input type="hidden" name="searchvalue" value="Subject 120-2-26 FINANCING OF PREMIUMS OF LIFE INSURANCE POLICIES" /> <input type="hidden" id="msg" value="REPLACE_MESSAGE" /> <input type="hidden" name="from" value="gac" /> </form> </div> <!--<div id="full-text-search"> <form id="search" action="../search.aspx" method="get" onsubmit="javascript:return fncheckqts();"> <span class="searchHierarchy" style="margin-right:10px;" > <em class="mnemonic">H</em>ierarchy Search:&nbsp; <input onclick="fnsetRDVal(id);" id="y" checked="checked" type="radio" name="hierarchysearch" value="yes" />&nbsp;Y <input onclick="fnsetRDVal(id);" id="n" type="radio" name="hierarchysearch" value="" />&nbsp;N </span> <label for="query" accesskey="s"> <em class="mnemonic">S</em>earch GA R&R: </label><input type="hidden" name="from" value="gac" /> <input id="query" name="query" type="text" /> <input class="submit" value="Go" type="submit" /> <input type="hidden" id="msg" value="REPLACE_MESSAGE" /> <input type="hidden" name="searchlevel" value="REPLACE_SEARCHLEVEL" /> <input type="hidden" name="searchvalue" value="Subject 120-2-26 FINANCING OF PREMIUMS OF LIFE INSURANCE POLICIES" /> </form> </div>--> <div id="searchcitation"> <form class="searchform" action="../search.aspx" method="get" onsubmit="javascript:return fnchecks();"> <div> <input id="section" name="section" class="searchfield" value="Go to Citation...." onfocus="if (this.value == 'Go to Citation....') {this.value = '';}" onblur="if (this.value == '') {this.value = 'Go to Citation....';}" type="text" /> <input class="searchbutton" value="Go" type="submit" /> <input type="hidden" name="from" value="gac" /> </div> </form> </div> </div> <HTML xmlns:xs="http://www.w3.org/2001/XMLSchema" xmlns:msxsl="urn:schemas-microsoft-com:xslt" xmlns:nll="uuid:{D3B28627-934D-41bc-8B7A-0549A8802FE4}"> <HEAD> <META http-equiv="Content-Type" content="text/html; charset=UTF-16"> </HEAD> <div id="infobar"><a href="javascript:;" accesskey="r" Name="Route" title="Route" class="quickkey"><em class="mnemonic">R</em>oute </a>:<div class="searchtips" style="float:right;margin-right:10px;color: rgb(47, 79, 79);"> <a style="text-decoration:none;color: rgb(47, 79, 79);" title="search tips" name="searchtip" href="../help.aspx#searching" target="_blank"><em class="mnemonic">S</em>earch tips</a></div><ul class="breadcrumb"> <li><a href="/GAC" name="GAC" title="GAC">GA R&amp;R</a></li> <li>&raquo; <a href="/GAC/120" title="120">Department 120</a></li> <li>&raquo; <a href="/GAC/120-2" title="120-2">Chapter 120-2</a></li> <li>&raquo; Subject 120-2-26</li> </ul> </div> </div><div id="doc" class="container"> <div id="doc-content" class="content"> <h1><nllsubject>Subject 120-2-26 FINANCING OF PREMIUMS OF LIFE INSURANCE POLICIES</nllsubject></h1> <h2><a href="/GAC/120-2-26-.01" name="120-2-26-.01" title="120-2-26-.01">Rule 120-2-26-.01 Statutory Authority</a></h2> <P>This Regulation is made and promulgated by the undersigned Insurance Commissioner pursuant to the authority set forth in Section <a href="https://links.casemakerlegal.com/states/ga/books/Code_of_Georgia/browse?ci=25&amp;id=gasos&amp;codesec=33-2-9&amp;title=33#" target="_newtab">33-2-9</a> of the Insurance Laws of this State, and especially Chapter 33-6 of the Georgia Code Annotated.</P> <h2><a href="/GAC/120-2-26-.02" name="120-2-26-.02" title="120-2-26-.02">Rule 120-2-26-.02 Purpose</a></h2> <P>The purpose of this Regulation is:</P> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.02(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> To implement the Insurance Laws of this State with respect to the financing of premiums of life insurance in this State;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.02(2)">(2)</a></td> <td valign="top" style="text-align:left" class="leftalign"> To protect the interests of the life insurance public by establishing minimum standards of conduct to be observed in the financing of life insurance policies, and by making available full and clear information on which an applicant for life insurance can make a decision in his own best interest by reducing the opportunity for misrepresentation. <P>The following Regulation and standards shall be observed and followed in the financing of life insurance policy premiums. Failure to observe said Regulation and standards is hereby deemed an unfair method of competition and an unfair and deceptive act or practice prohibited by Chapter 33-6 of the Insurance Laws of the State of Georgia.</P> </td> </tr> </table> <h2><a href="/GAC/120-2-26-.03" name="120-2-26-.03" title="120-2-26-.03">Rule 120-2-26-.03 Exemptions from Regulation</a></h2> <P>This Regulation shall not apply to a credit life insurance policy financed by lending institutions, or merchants financing consumer products.</P> <h2><a href="/GAC/120-2-26-.04" name="120-2-26-.04" title="120-2-26-.04">Rule 120-2-26-.04 Notice for Minors</a></h2> <P>In the event the insured is a minor, and executes a promissory note for the payment of part or all of the first year's premium, such note must be witnessed or acknowledged by at least one of the insured's parents, legal guardian, or adult spouse.</P> <h2><a href="/GAC/120-2-26-.05" name="120-2-26-.05" title="120-2-26-.05">Rule 120-2-26-.05 Disclosure of Note Obligation</a></h2> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.05(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The fact that a promissory note is to be executed by the insured must: <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.05(1)(a)">(a)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Be set forth in the Application, preceding the applicant's signature;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.05(1)(b)">(b)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Show the amount of the note for premiums;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.05(1)(c)">(c)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Specify the true rate of interest of the note;</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.05(1)(d)">(d)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Give the amount of any down payment made at the time of taking the application; and</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.05(1)(e)">(e)</a></td> <td valign="top" style="text-align:left" class="leftalign"> If applicable, State the fact that the note becomes due and payable in full upon any default in premium payment.</td> </tr> </table> </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.05(2)">(2)</a></td> <td valign="top" style="text-align:left" class="leftalign"> A down payment of at least ten dollars ($10.00) must be paid by the insured at the time the application is signed.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.05(3)">(3)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The down payment must be paid by the applicant in cash, or its equivalent, and any payment made directly or indirectly by the agent to or for the benefit of the applicant in connection with the sale shall be presumed to be a rebate or special inducement.</td> </tr> </table> <h2><a href="/GAC/120-2-26-.06" name="120-2-26-.06" title="120-2-26-.06">Rule 120-2-26-.06 Delivery of Note</a></h2> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.06(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> If the payee of the Note is an insurer or any affiliate thereof, except the agent, a copy of the Note must be delivered with the policy at the time of delivery.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.06(2)">(2)</a></td> <td valign="top" style="text-align:left" class="leftalign"> If the payee is the agent, a copy of the Note must be delivered with the policy at the time of policy delivery.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.06(3)">(3)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Delivery must be in person by a company representative.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.06(4)">(4)</a></td> <td valign="top" style="text-align:left" class="leftalign"> In the event that personal delivery is, for good reason, impractical, delivery may be made by use of the United States Certified Mail - Return Receipt Requested. Delivery must be to addressee only.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.06(5)">(5)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Upon delivery, a policy receipt or acceptance form must be executed which recites that: <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.06(5)(a)">(a)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The face amount, premium payment frequency and periodic premium amount of the policy have been presented as represented; and</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.06(5)(b)">(b)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The insured has examined the "Remarks" Section of the Application and acknowledges and understands the provisions and obligations of the financial indebtedness he has incurred.</td> </tr> </table> </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.06(6)">(6)</a></td> <td valign="top" style="text-align:left" class="leftalign"> It shall be the responsibility of the company representative to read the policy receipt or acceptance form to the insured. In the event that delivery is made by use of the United States Mail as in Item 4 above, the Company shall request the insured to sign and return the policy receipt or acceptance form.</td> </tr> </table> <h2><a href="/GAC/120-2-26-.07" name="120-2-26-.07" title="120-2-26-.07">Rule 120-2-26-.07 Duties of Payee</a></h2> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.07(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> If the Company, or any affiliate thereof, except the agent, be the payee and the promissory note is sold or otherwise transferred, the Company shall: <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.07(1)(a)">(a)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Notify the note maker and all co-makers regarding such transfer or sale after it occurs, inviting any questions relative to the note, or the policy which is used as collateral security for the note.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.07(1)(b)">(b)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Such notice may be given by the purchaser, transferee, or assignee of the note.</td> </tr> </table> </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.07(2)">(2)</a></td> <td valign="top" style="text-align:left" class="leftalign"> If the agent, or a party other than the Company or any affiliate thereof be the payee: <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.07(2)(a)">(a)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The agent shall bear the duty of notice as in this Regulation provided; and</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.07(2)(b)">(b)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Shall furnish the Company with a copy of said notice.</td> </tr> </table> </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.07(3)">(3)</a></td> <td valign="top" style="text-align:left" class="leftalign"> If the payee or intended assignee of the Note is the insurer or any affiliate thereof, except the agent, the promissory note shall not be sold or otherwise transferred by the payee, nor any commissions on the sale paid to the agent until the form outlined in Item 2 above has been received in the home office of the Company.</td> </tr> </table> <h2><a href="/GAC/120-2-26-.08" name="120-2-26-.08" title="120-2-26-.08">Rule 120-2-26-.08 Underwriting Principles</a></h2> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.08(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The maximum amount of any financing arrangement which may be executed in connection with such a transaction shall be in accordance with reasonable and sound underwriting and business practices.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.08(2)">(2)</a></td> <td valign="top" style="text-align:left" class="leftalign"> A financed program shall not be sold to an undergraduate on a basis where premiums would come due prior to the anticipated date of graduation by the insured.</td> </tr> </table> <h2><a href="/GAC/120-2-26-.09" name="120-2-26-.09" title="120-2-26-.09">Rule 120-2-26-.09 Cash Values of Policy</a></h2> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.09(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The cash values shown at the time of presentation shall be a specimen of the policy being offered and not for a larger policy. (Example: if $10,000 policy is being sold, values for this policy shall be shown - not those for a $50,000 or $75,000 program.) This leads to misunderstanding on the part of the insured when he receives his $10,000 policy and the cash values are less than those shown at the time of sale.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.09(2)">(2)</a></td> <td valign="top" style="text-align:left" class="leftalign"> In the event a sales presentation is made for an amount of insurance greater than that actually sold, then an approximate summary must be given to the insured for the exact amount of the policy sold, not later than the date of delivery.</td> </tr> </table> <h2><a href="/GAC/120-2-26-.10" name="120-2-26-.10" title="120-2-26-.10">Rule 120-2-26-.10 Misleading Titles</a></h2> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.10(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> An agent or field representative who is licensed by this State as a life insurance agent shall not represent, refer to, or hold himself out to the public under any special title which would obscure the fact that he is a licensed agent of the Company. Identification as an agent or representative of a special division of such company may be permitted, providing: <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.10(1)(a)">(a)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Such a division actually exists, </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.10(1)(b)">(b)</a></td> <td valign="top" style="text-align:left" class="leftalign"> The agency relationship is disclosed, and </td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.10(1)(c)">(c)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Such identification is not misleading as to the agent's identity as a representative of an insurer.</td> </tr> </table> </td> </tr> </table> <h2><a href="/GAC/120-2-26-.11" name="120-2-26-.11" title="120-2-26-.11">Rule 120-2-26-.11 Free Insurance</a></h2> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.11(1)">(1)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Impressions left with the applicant that he will receive the first year's insurance free will be considered an improper presentation of the sales transaction by the agent involved.</td> </tr> </table> <table border="0" width="100%" cellspacing="4" cellpadding="4"> <tr> <td valign="top" width="1%" style="white-space:nowrap;text-align:left;width:18px;"><a style="white-space:nowrap;" name="120-2-26-.11(2)">(2)</a></td> <td valign="top" style="text-align:left" class="leftalign"> Repeated complaints of "free insurance" for the first year shall be considered strong evidence of failure on the part of the agent to clearly explain the note process and its payment.</td> </tr> </table> <h2><a href="/GAC/120-2-26-.12" name="120-2-26-.12" title="120-2-26-.12">Rule 120-2-26-.12 Request to Cancel Insurance</a></h2> <P>In the event an insured expresses a desire to cancel such a policy and premium arrangement, the Georgia Insurance Department will expect the cooperation of the Company and its agents in bringing such matters to a satisfactory conclusion as expeditiously as possible.</P> <P>If it should be determined that the Company or agent has violated this Regulation, or if it is determined that there has been a material misrepresentation of the contract, the policy may, at the option of the insured, be returned to the Company with a signed request for release. The said policy will then be cancelled, and the applicant released from any liability, and refund made of any down payment.</P> <h2><a href="/GAC/120-2-26-.13" name="120-2-26-.13" title="120-2-26-.13">Rule 120-2-26-.13 Penalties</a></h2> <P>Any insurer, agent, representative, officer, or employee of such insurer, failing to comply with the requirements of this Regulation shall be subject to such penalties as may be appropriate under the Insurance Laws of this State.</P> <h2><a href="/GAC/120-2-26-.14" name="120-2-26-.14" title="120-2-26-.14">Rule 120-2-26-.14 Effective Date</a></h2> <P>This Regulation shall become effective August 1, 1972.</P> </div> </div> </HTML> </div> <div id="toc" class="sidebar noprint"> <ul id="toc-children" class="children"><li><a href="/GAC/120-2-26-.01" name="120-2-26-.01" title="120-2-26-.01">Rule 120-2-26-.01 Statutory Authority</a></li><li><a href="/GAC/120-2-26-.02" name="120-2-26-.02" title="120-2-26-.02">Rule 120-2-26-.02 Purpose</a></li><li><a href="/GAC/120-2-26-.03" name="120-2-26-.03" title="120-2-26-.03">Rule 120-2-26-.03 Exemptions from Regulation</a></li><li><a href="/GAC/120-2-26-.04" name="120-2-26-.04" title="120-2-26-.04">Rule 120-2-26-.04 Notice for Minors</a></li><li><a href="/GAC/120-2-26-.05" name="120-2-26-.05" title="120-2-26-.05">Rule 120-2-26-.05 Disclosure of Note Obligation</a></li><li><a href="/GAC/120-2-26-.06" name="120-2-26-.06" title="120-2-26-.06">Rule 120-2-26-.06 Delivery of Note</a></li><li><a href="/GAC/120-2-26-.07" name="120-2-26-.07" title="120-2-26-.07">Rule 120-2-26-.07 Duties of Payee</a></li><li><a href="/GAC/120-2-26-.08" name="120-2-26-.08" title="120-2-26-.08">Rule 120-2-26-.08 Underwriting Principles</a></li><li><a href="/GAC/120-2-26-.09" name="120-2-26-.09" title="120-2-26-.09">Rule 120-2-26-.09 Cash Values of Policy</a></li><li><a href="/GAC/120-2-26-.10" name="120-2-26-.10" title="120-2-26-.10">Rule 120-2-26-.10 Misleading Titles</a></li><li><a href="/GAC/120-2-26-.11" name="120-2-26-.11" title="120-2-26-.11">Rule 120-2-26-.11 Free Insurance</a></li><li><a href="/GAC/120-2-26-.12" name="120-2-26-.12" title="120-2-26-.12">Rule 120-2-26-.12 Request to Cancel Insurance</a></li><li><a href="/GAC/120-2-26-.13" name="120-2-26-.13" title="120-2-26-.13">Rule 120-2-26-.13 Penalties</a></li><li><a href="/GAC/120-2-26-.14" name="120-2-26-.14" title="120-2-26-.14">Rule 120-2-26-.14 Effective Date</a></li></ul> </div> </div> <!--content ends here--> <div id="footer" class="noprint"><span class="footer">Copyright &copy; 2019 Lawriter LLC - All rights reserved.</span>| <a href="mailto:support@casemakerlegal.com?subject=Rules and Regulations of the State of Georgia">Email Us</a> | 844-838-0769 | <a href="http://livechat.casemakerlegal.com/client.php?locale=en" target="_blank" onclick="if(navigator.userAgent.toLowerCase().indexOf('opera') != -1 && window.event.preventDefault)window.event.preventDefault();this.newWindow = window.open('http://livechat.casemakerlegal.com/client.php?locale=en&url='+escape(document.location.href)+'&referrer='+escape(document.referrer), 'webim','toolbar=0,scrollbars=0,location=0,status=1,menubar=0,width=640,height=480,resizable=1');this.newWindow.focus();this.newWindow.opener=window;return false;">Live Chat</a> </div> </div> </body> </html>