O.C.G.A. § 33-31-2 (2019)
Applicability of chapter
(a) Except as provided otherwise in subsection (c) of this Code section, all life insurance and all accident and sickness insurance sold in connection with loans or other credit transactions pursuant to a plan covering all debtors of a creditor or a class or classes of debtors shall be subject to this chapter, except such insurance sold in connection with a loan or other credit transaction of five years’ duration or more.
(b) Nothing in this chapter is intended to prohibit or discourage reasonable competition.
(c) All life insurance and all accident and sickness insurance sold in connection with loans or other credit transactions pursuant to a plan covering all debtors of a creditor or a class or classes of debtors shall be subject to this chapter, except such insurance sold in connection with a loan or other credit transaction of more than ten years’ duration.
History
Code 1933, § 56-3301, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1991, p. 1092, § 1; Ga. L. 2019, p. 386, § 106/SB 133.
The 2019 amendment, effective July 1, 2019, deleted ‘‘on and after July 1, 1991,’’ following ‘‘insurance sold’’ in two places in subsection (c).
Annotations
JUDICIAL DECISIONS Cited in Christian v. Carrollton Fed. Sav. & Loan Ass’n, 221 Ga. 119, 143 S.E.2d 391 (1965); Smith v. General Fin.
Corp., 143 Ga. App. 390, 238 S.E.2d 694 (1977); Darden v. Ford Consumer Fin. Co., 200 F.3d 753 (11th Cir. 2000).