Rule 120-2-49-.02. Scope and Purpose

1. (1) This Regulation applies to any administrator as defined in O.C.G.A. Section 33-23-100.

2. (2) The purposes of this Regulation include

   1. (a) Providing disclosure of contracts between insurers and third party administrators, both to potential insureds and to the Commissioner;
   2. (b) Promoting the financial responsibility of insurance administrators;
   3. (c) Subjecting those business entities defined in O.C.G.A. § 33-23-100 to the jurisdiction of the Commissioner of Insurance; and
   4. (d) Regulating insurance administrators' practices in conformity with the general purposes of the Georgia Insurance Code.

Authority: O.C.G.A. Secs. 33-2-9, 33-23-100et seq., 33-23-105.

History. Original Rule entitled "Scope and Purpose of Regulation" adopted. F. May 19, 1993; eff. June 8, 1993.

Amended: F. Sept. 15, 1993; eff. Oct. 5, 1993.

Repealed: New Rule entitled "Scope and Purpose" adopted. F. June 10, 1997; eff. June 30, 1997.

Repealed: New Rule of same title adopted. F. Dec. 9, 2005; eff. Dec. 29, 2005.