Rule 120-2-71-.11 - Premium Collection(1) Only a licensed agent or insurance/annuity agent may accept the initial premium paid for an annuity contract. (2) A financial institution or affiliate may, at the request of the annuity purchaser, send premium billings or notices to annuity purchasers and debit the purchaser's account or credit arrangement for the payment of annuity premiums subsequent to the initial payment. Upon the written request of the annuity purchaser or insurer to discontinue this form of premium payment, the financial institution shall immediately discontinue such debits. Ga. Comp. R. & Regs. R. 120-2-71-.11
O.C.G.A. Secs. 33-2-9, 33-3-23.
Original Rule entitled "Premium Collection" adopted. F. Jul. 19, 1996; eff. Aug. 8, 1996.