Rule 120-2-93-.09 - Penalties(1) Any person failing to comply with the requirements of this Chapter and O.C.G.A. §§ 33-59-1et seq. shall be subject to all such penalties and relief as may be appropriate under the laws of this State. Furthermore, a violation of this Chapter shall be considered an unfair trade practice pursuant to state law and subject to such penalties provided by state law.(2) It is unlawful for any person, other than a licensed provider or a registered life settlement broker, to enter into any life settlement contract with an owner of a policy or facilitate any life settlement contract unless that party is defined as being specifically excluded from registration or licensure by O.C.G.A. § 33-59-2(10) or O.C.G.A. § 33-59-2(18). A violation of this section shall be considered a fraudulent life settlement act and the violator(s) subject to fines and penalties as stipulated at O.C.G.A. § 33-59-15 and O.C.G.A. § 33-59-16.Ga. Comp. R. & Regs. R. 120-2-93-.09
O.C.G.A. Secs. 33-2-9, 33-59-1et seq.
Original Rule entitled "Penalties" adopted. F. Oct. 14, 2005; eff. Nov. 3, 2005.Repealed: New Rule of same title adopted. F. Oct. 29, 2009; eff. Nov. 18, 2009.