Rule 120-2-26-.06 - Delivery of Note(1) 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.(2) If the payee is the agent, a copy of the Note must be delivered with the policy at the time of policy delivery.(3) Delivery must be in person by a company representative.(4) 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.(5) Upon delivery, a policy receipt or acceptance form must be executed which recites that: (a) The face amount, premium payment frequency and periodic premium amount of the policy have been presented as represented; and(b) 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.(6) 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.Ga. Comp. R. & Regs. R. 120-2-26-.06
O.C.G.A. Sec. 33-2-9, Ch. 33-6.
Original Rule entitled "Delivery of Note" adopted. F. July 18, 1972; eff. August 7, 1972.Submitted for Publishing: Mar. 15, 2007.