Rule 120-2-49-.18. Change of Management; Acquisition; Affiliation; Relationships with Third Parties

1. (1) The administrator shall, within 30 days after the event, notify the Commissioner of any material change in its management.
2. (2) An administrator's license shall not be sold or transferred to a non-affiliated or otherwise unrelated party.
3. (3) An administrator may not contract or sub-contract any of its negotiated services to any unlicensed business entity unless specifically approved by the Commissioner.

Authority: O.C.G.A. Secs. 33-2-9, 33-23-100et seq., 33-23-104, 33-23-105.

History. Original Rule entitled "Forms Relating to Regulation of Administrators" adopted. F. May 19, 1993; eff. June 8, 1993.

Repealed: New Rule entitled "Forms" adopted.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

Repealed: New Rule entitled "Change of Management; Acquisition; Affiliation; Relationships with Third Parties" adopted. F. Dec. 9, 2005; eff. Dec. 29, 2005.