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O.C.G.A. § 33-22-10 — Delinquency charges; returned check fees | Georgia Code
O.C.G.A. § 33-22-10 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 33 INSURANCE

Section 22. Insurance Premium Finance Companies, 33-22-1 through 33-22-16.

ARTICLE 4 JOINT COMMITTEE TO STUDY PRESCRIPTION COSTS IN STATE FUNDED HEALTH CARE PLANS

33-22-10. Delinquency charges; returned check fees.

  1. A premium finance agreement may provide for the payment by the insured of a delinquency charge ranging in amount from $1.50 to a maximum of 5 percent of the delinquent payment on any payment which is in default for a period of five days or more. If the default results in the cancellation of any insurance contract listed in the agreement, the agreement may provide for the payment by the insured of a cancellation charge of $15.00 in the case of a commercial insurance premium finance agreement or $5.00 in the case of a consumer insurance premium finance agreement.
  2. A premium finance agreement may provide for a returned check fee of $20.00 for each installment payment check returned by the financial institution as the result of insufficient funds.

(Ga. L. 1969, p. 561, § 11; Ga. L. 1981, p. 760, § 3; Ga. L. 1995, p. 1047, § 2.)

Editor's notes.

- Ga. L. 1981, p. 760, § 4, provided that that Act, § 3 of which amended this section, was to apply to all insurance premium finance agreements entered into on or after the date the Act was signed by the Governor or became law without his approval. The Act was approved April 7, 1981.

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This Georgia Code resource is curated by Georgia Bar member Graham W. Syfert, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. Attorney Syfert regularly works with Title 33 in the context of Georgia insurance coverage law and represents clients throughout Northeast Florida and South Georgia. For legal consultation, call 904-383-7448.