O.C.G.A.
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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.
History
Ga. L. 1975, p. 1234, § 5; Ga. L. 1976, p. 1564, § 2; Ga. L. 1984, p. 1345, § 1.
Annotations
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 prop-
erly 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).
Notes of Decisions
Int'l Indem. Co. v. Bakco Acceptance, Inc., 322 S.E.2d 78 (Ga. Ct. App. 1984).
· cites it 14× “Appellant contends that the trial court erred by holding that Perry’s action to recover the unearned insurance premiums under former OCGA § 33-22-14 (a) was not barred by Perry’s failure to notify International of the existence of the premium finance agreements on *30 the…”
Paulsen Street Investors v. EBCO Gen. Agencies, 514 S.E.2d 904 (Ga. Ct. App. 1999).
· cites it 2× “This provision of the Insurance Premium Finance Company Act states, in pertinent part: Whenever an insurance policy is canceled and the premiums have been paid by an insurance premium finance company on behalf of the insured, if the insurer has been notified of the existence of…”
Paulsen Street Investors v. EBCO Gen. Agencies, 481 S.E.2d 246 (Ga. Ct. App. 1997).
· cites it 2× “A security interest is created by statute on behalf of the premium financer when the insured signs the insurance premium finance agreement.”
Burke v. Prime Rate Premium Fin. Corp., 754 S.E.2d 802 (Ga. Ct. App. 2014).
· cites it 2× “2 OCGA § 33-22-14 (a) provides: Whenever an insurance policy is canceled and the premiums have been paid by an insurance premium finance company on behalf of the insured, if the insurer has been notified of the existence of the insurance premium finance agreement as required in…”
Thomas J. Burke D/B/A Am. Transp. v. Prime Rate Premium Fin. Corp. (Ga. Ct. App. 2014).
· cites it 2× “2 OCGA § 33-22-14 (a) provides: Whenever an insurance policy is canceled and the premiums have been paid by an insurance premium finance company on behalf of the insured, if the insurer has been notified of the existence of the insurance premium finance agreement as required in…”
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