Georgia § 33-63-2 Purpose; exemptions from applicability of chapter; guaranteed asset protection waivers exempt from state's insurance laws

Georgia Statutes

§ 33-63-2 — Purpose; exemptions from applicability of chapter; guaranteed asset protection waivers exempt from state's insurance laws

Georgia § 33-63-2

Title33

This text of Georgia § 33-63-2 (Purpose; exemptions from applicability of chapter; guaranteed asset protection waivers exempt from state's insurance laws) 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. § 33-63-2 (2026).

Text

(a)The purpose of this chapter is to provide a framework within which guaranteed asset protection waivers are defined and may be offered within this state.

(b)This chapter shall not apply to:

(1)An insurance policy offered by an insurer under the insurance laws of this state; or (2) A debt cancellation or debt suspension contract being offered in compliance with 12 C.F.R. Part 37 or 12 C.F.R. Part 721 or other federal law.

(c)Guaranteed asset protection waivers governed under this chapter are not insurance and are exempt from the insurance laws of this state. Persons marketing, selling, or offering to sell guaranteed asset protection waivers to borrowers that comply with this chapter are exempt from this state's insurance licensing requirements.

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(a) The purpose of this chapter is to provide a framework within which guaranteed asset protection waivers are defined and may be offered within this state. (b) This chapter shall not apply to: (1) An insurance policy offered by an insurer under the insurance laws of this state; or (2) A debt cancellation or debt suspension contract being offered in compliance with 12 C.F.R. Part 37 or 12 C.F.R. Part 721 or other federal law. (c) Guaranteed asset protection waivers governed under this chapter are not insurance and are exempt from the insurance laws of this state. Persons marketing, selling, or offering to sell guaranteed asset protection waivers to borrowers that comply with this chapter are exempt from this state's insurance licensing requirements.