Rule 120-2-2-.62. Bonds

1. (1) Kinds of Bonds Required:

   1. (a) To secure a broker's license, whether resident or nonresident, along with the application, a bond must be submitted on form GID-112, entitled "Insurance Broker's Bond", attached hereto as "Exhibit L", and incorporated herein;
   2. (b) To secure a public adjuster's license, along with the application a bond must be submitted on Form GID-113, entitled, "Public Adjuster's Bond", attached hereto as "Exhibit M", and incorporated herein;
   3. (c) To secure a surplus lines broker's license, along with the application, a bond must be submitted on form GID-114, entitled "Surplus Lines Broker's Bond", attached hereto as "Exhibit N", and incorporated herein.

2. (2) Completing the Bond Forms:

   1. (a) Bond forms must be completed by inserting information in the spaces provided and must be signed by the principal, by an official or attorney-in-fact of a corporate surety authorized to do business in this State, and by a licensed resident agent of such corporate surety. Attached to the bond must be a properly certified copy of power of attorney of representative of surety company who signs bonds.
3. (3) Bond forms GID-112, GID-113, and GID-114 may be obtained by submitting a request to the Georgia Insurance Department, Agents Licensing Division, Room 132, State Capitol Building, Atlanta, Georgia.

Authority: O.C.G.A. § 33-2-9et seq.

History. Original Rule entitled "Bonds" adopted. F. Dec. 13, 2019; eff. Jan. 1, 2020, as specified by the Agency.