Rule 120-2-3-.31 - Limited Subagent License(1) Limited subagent means an individual licensed pursuant to O.C.G.A. 33-23-12(a)under the sponsorship of a licensed agent. With the scope of authority set forth in Chapter 23 of Title 33 of the Official Code of Georgia Annotated, a limited subagent license may be issued, limiting the insurance activity to the following:(a) Personal lines-property and casualty;(b) Personal insurance-life, accident and sickness.(2) In order to be eligible for a limited subagent license issued in accordance with Chapter 23 of Title 33 of the Official Code of Georgia Annotated and this Regulation, the applicant must make proper application to the Commissioner and pay all required fees. (a) The application process shall include sponsorship by a resident agent licensed to do business in this state. Prior to issuance of the license, the sponsoring agent shall agree to appoint the applicant as a representative of the agent. The sponsoring agent shall affirm that an investigation on the general character of the applicant has been conducted by an agency not affiliated with the agent and that the sponsoring agent recommends the applicant for a license. Such investigation shall include a criminal background check.(b) Effective January 1, 2010, all new applicants, excluding active licensees and individuals that apply for reinstatement within 6 months of expiration date, shall be required to submit electronic fingerprints through a vendor selected by the Department for a criminal background check. The applicant shall bear the cost for electronic fingerprinting.(c) The applicant may not become licensed in a category of insurance not included in the license of the sponsoring agent.(d) The applicant shall provide evidence of completion of an approved limited subagent prelicensing course in the lines for which he/she seeks licensure. Such evidence shall accompany the application. Such completion will only be accepted if the prelicensing course has been taken within twelve (12) months of filing the application for licensure.(3) No examination shall be required.(4) The sponsoring agent shall retain the limited subagent's license. In the event the relationship with the limited subagent is terminated, the sponsoring agent shall return the license to the Commissioner with a request for termination of the limited subagent license.(5) Each year by the dates specified in Rule 120-2-3-.16, license renewals, and evidence of at least five (5) hours of continuing education must be filed each year on forms specified by the Commissioner and accompanied by the required fees. After conversion to a biennial license and upon subsequent renewal, each limited subagent licensee is required to provide proof of ten (10) hours of continuing education.(6) The limited subagent certificate of authority must be renewed in conjunction with the limited subagent license renewal.(7) The termination, cancellation, or nonrenewal of the sponsoring agent's license will result in the cancellation of the limited subagent license.Ga. Comp. R. & Regs. R. 120-2-3-.31
O.C.G.A. Secs. 33-2-9, 33-23-5, 33-23-5.1, 33-23-8, 33-23-10, 33-23-12, 33-23-18, 33-23-27, 33-23-44.
Original Rule entitled "Limited Subagent License" adopted. F. Sept. 10, 1992; eff. Sept. 30, 1992.Amended: F. Aug. 9, 1996; eff. Aug. 29, 1996.Repealed: New Rule of same title adopted. F. Jan. 15, 2003; eff. Feb. 4, 2003.Amended: F. July 16, 2009; eff. August 5, 2009.Repealed: New Emergency Rule adopted. F. Jun. 28, 2012; eff. Jun. 28, 2012, as specified by the agency.Repealed: New Rule of same title adopted. F. Sep. 10, 2012; eff. Sept. 30, 2012.