Rule 120-2-24-.04. Exemptions

Unless otherwise specifically included, this Regulation shall not apply to:

1. (1) Replacement of annuity contracts;
2. (2) Credit life insurance;
3. (3) Group life insurance;

4. (4) Life insurance issued in connection with a pension, profit-sharing or other benefit plan qualifying for tax deductibility of premiums, provided that

   1. (a) a portion or all of the premium is paid by someone other than the policyholder, certificate holder, insured, beneficiary, or no individual underwriting is required with respect to any proposed insurance policy, and
   2. (b) as to any plan otherwise qualifying for exemption by this subsection, full and complete disclosure of all material facts shall be provided the administrator of the plan subject to replacement.

Submitted for Publishing: Apr. 6, 2007.

Authority: Ga. L. 1960, pp. 289, 305, 1972, pp. 1261, 1264.

History. Original Rule entitled "Exemptions from Regulation" adopted. F. June 5, 1972; eff. June 25, 1972.

Repealed: New Rule entitled "Exemptions" adopted. F. Apr. 28, 1982; eff. Jun. 1, 1982, as specified by the Agency.