Rule 120-2-27-.18. Refunds

1. (1) In the event of termination, no charge for credit insurance shall be made for the first 15 days of a loan month and a full month may be charged for 16 days or more of a loan month.
2. (2) If the debt is prepaid by the debtor, the refund check or draft shall be made payable to the debtor.
3. (3) The refund method must be set forth in the group policy, rider, individual policy and certificate of insurance.
4. (4) No refund of less than $10.00 need be made.

Submitted for Publishing: Apr. 6, 2007.

Authority: O.C.G.A. Secs. 33-2-9, 33-31-7, 33-31-9, 33-31-12.

History. Original Rule entitled "Effective Date" adopted. F. Mar. 8, 1977; eff. July 1, 1977, as specified by the Agency.

Repealed: New Rule of same title adopted. F. Dec. 7, 1984; eff. Jun. 1, 1985, as specified by the Agency.

Repealed: New Rule entitled "Refunds" adopted. F. Oct. 12, 1993; eff Nov. 1, 1993.