Ga. Comp. R. & Regs. R. 120-2-76-.03 - Notification to Department of Intent to Sell Insurance In or Through Financial Institutions; Registration of Bank Holding Company with the Department of Banking and Finance

(1) Prior to marketing insurance products, a financial institution shall provide notification to the Department of Insurance on Form GID 423FI and file a copy with the Department of Banking and Finance (DBF). Such report shall:

(a) Identify any financial institution location where an insurance agent will be physically present. Each branch must be identified specifically in the registration;

(b) Acknowledge that the financial institution has read and understands these rules; and

(c) Identify any insurance company and the policy form numbers of the insurance which will be marketed in association with the financial institution.

(2) An Amended Form shall be filed within 15 days after the end of the month in which it learns of each change or addition.

(3) Any financial institution with a holding company, which is marketing or selling insurance products in this state, shall register said holding company with the Department of Banking and Finance pursuant to DBF Regulation § 80-5-4-.02.

Notes

Ga. Comp. R. & Regs. R. 120-2-76-.03

O.C.G.A. Secs. 33-2-9, 33-3-23.

Original Rule entitled "Notification to Department of Intent to Sell Insurance In or Through Financial Institutions; Registration of Bank Holding Company with the Department of Banking and Finance" adopted. F. Feb. 18, 1997; eff. Mar. 10, 1997.