Georgia § 33-23-20 Effect of license suspension or placement of license on inactive status

Georgia Statutes

§ 33-23-20 — Effect of license suspension or placement of license on inactive status

Georgia § 33-23-20

Title33

This text of Georgia § 33-23-20 (Effect of license suspension or placement of license on inactive status) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 33-23-20 (2026).

Text

(a)The suspension of the license of an agent or limited subagent or the placing of such license on inactive status shall not deprive such individual or the executors or administrators of such individual's estate of any right that may have been acquired by a contract made before such suspension or placement on inactive status to receive all or a portion of commissions upon contracts of insurance written before such suspension or placement on inactive status with reference to the periods of time during which such contracts are in effect, including renewal option periods provided in the contracts.

(b)In case of a sale of an agency upon a work-out basis, the seller without maintaining his or her license or the executors and administrators of the seller's estate may participate in the proceed

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(a) The suspension of the license of an agent or limited subagent or the placing of such license on inactive status shall not deprive such individual or the executors or administrators of such individual's estate of any right that may have been acquired by a contract made before such suspension or placement on inactive status to receive all or a portion of commissions upon contracts of insurance written before such suspension or placement on inactive status with reference to the periods of time during which such contracts are in effect, including renewal option periods provided in the contracts. (b) In case of a sale of an agency upon a work-out basis, the seller without maintaining his or her license or the executors and administrators of the seller's estate may participate in the proceeds of premiums on insurance written by the purchaser of the agency when and as authorized to do so by the contract of sale of the agency; and this participation may be without limitation of time after the seller ceased to hold a license. An agent whose license has been suspended or placed in inactive status may, when the countersignature of a resident licensed agent is required pursuant to Code Section 33-3-26 and if authorized by the insurer, countersign certificates and endorsements necessary to continue coverage to the expiration date, including renewal option periods. (c) Nothing in this article shall be construed to permit an agent or limited subagent whose license has been suspended or placed in inactive status to sell, solicit, or negotiate insurance other than as expressly permitted in subsections (a) and (b) of this Code section.

Legislative History

Amended by 2019 Ga. Laws 140,§ 9, eff. 7/1/2019. Amended by 2008 Ga. Laws 767,§ 11, eff. 7/1/2008. Amended by 2005 Ga. Laws 19,§ 33, eff. 4/7/2005. Amended by 2001 Ga. Laws 293, § 1, eff. 7/1/2002.