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2018 Georgia Code 33-59-18 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 33-59-18 Case Law from Google Scholar Amendments to OCGA 33-59-18

TITLE 33 INSURANCE

Section 59. Life Settlements, 33-59-1 through 33-59-18.

ARTICLE 4 LIQUIDATION PROCEEDINGS

33-59-18. Transacting business permitted while the provider's license application is pending.

  1. A provider lawfully transacting business in this state prior to July 1, 2009, may continue to do so pending approval or disapproval of that person's application for a license so long as the application is filed with the Commissioner not later than 30 days after publication by the Commissioner of an application form and instructions for licensure of providers. If the publication of the application form and instructions is prior to July 1, 2009, then the filing of the application shall not be later than August 1, 2009. During the time that such an application is pending with the Commissioner, the applicant may use any form of life settlement contract that has been filed with the Commissioner pending approval thereof, provided that such form is otherwise in compliance with the provisions of this chapter. Any person transacting business in this state under this provision shall be obligated to comply with all other requirements of this chapter.
  2. A person who has lawfully negotiated life settlement contracts between any owner residing in this state and one or more providers for at least one year immediately prior to July 1, 2009, may continue to do so pending approval or disapproval of that person's application for a license so long as the application is filed with the Commissioner not later than 30 days after publication by the Commissioner of an application form and instructions for registration of life settlement brokers. If the publication of the application form and instructions is prior to July 1, 2009, then the filing of the application shall not be later than August 1, 2009. Any person transacting business in this state under this provision shall be obligated to comply with all other requirements of this chapter.

(Code 1981, §33-59-17, enacted by Ga. L. 2005, p. 998, § 1/SB 217; Code 1981, §33-59-18, as redesignated by Ga. L. 2009, p. 370, § 1/SB 61.)

Code Commission notes.

- Pursuant to Code Section 28-9-5, in 2009, "to" was inserted in the second sentence of subsection (b).

Editor's notes.

- Former Code Section33-59-18 (Code 1981, § 33-59-18, enacted by Ga. L. 2005, p. 998, § 1/SB 217), relating to the one-year exception to license requirement for persons who have lawfully negotiated life settlement contracts for at least one year and registration with the Commissioner and compliance with security laws, was repealed by Ga. L. 2009, p. 370, § 1/SB 61, effective July 1, 2009.

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