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O.C.G.A. § 33-22-12 — Notification of insurer by finance company of existence of premium finance agreement | Georgia Code
O.C.G.A. § 33-22-12 (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

33-22-12. Notification of insurer by finance company of existence of premium finance agreement.

Any premium finance company which enters into a premium finance agreement under this chapter shall notify the insurer whose premiums are being financed of the existence of the agreement. A draft of the premium finance company made payable directly to the order of the insurer of the premium due such insurer for a policy or policies financed by such premium finance company shall constitute sufficient notice under this Code section. The insurer shall not be required to comply with Code Sections 33-22-13 and 33-22-14 until notification of the existence of the insurance premium finance agreement has been furnished to the insurer in accordance with this Code section.

(Ga. L. 1975, p. 1234, § 5; Ga. L. 1976, p. 1564, § 2; Ga. L. 1984, p. 1345, § 1.)

JUDICIAL DECISIONS

Effect of former notification period provision.

- The mere failure to provide notification within the 30-day notification period will not bar the premium finance company from recovery of unearned premiums where there has been notification to the insurer prior to the time the insurer processes the return of the unearned premiums. International Indem. Co. v. Bakco Acceptance, Inc., 172 Ga. App. 28, 322 S.E.2d 78 (1984) (decided prior to 1984 amendment).

Insured obligated to pay balance of financed amount upon cancellation of insurance policy.

- Trial court properly granted an insurance premium finance corporation summary judgment on the corporation's claim against the insured for unpaid premiums because O.C.G.A. § 33-22-14(a) was not the corporation's exclusive remedy based on the finance agreement obligating the insured to pay the balance remaining once the policy was canceled. Burke v. Prime Rate Premium Fin. Corp., 325 Ga. App. 760, 754 S.E.2d 802 (2014).

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This Georgia Code resource is curated by an Orange Park personal injury and workers' comp lawyer, 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.