GEORGIA CODE (Last Updated: August 20, 2013) |
Title 33. INSURANCE |
Chapter 23. LICENSING |
Article 1. AGENTS, AGENCIES, SUBAGENTS, COUNSELORS, AND ADJUSTERS |
Section 33-23-28. Scope of subagent's authority; record of transactions
Latest version.
- (a) A subagent's certificate of authority shall not cover any kind of insurance for which the sponsoring agent and subagent are not licensed.
(b) A subagent or limited subagent shall not have power to bind an insurer.
(c) All business transacted by a subagent under such subagent's license or limited subagent shall be in the name of the agent by whom the subagent or limited subagent is employed; and the agent shall be responsible for all the acts or omissions of the subagent or limited subagent within the scope of his or her employment.
(d) A record of each transaction shall be maintained by both the agent and the subagent or limited subagent.
Code 1981, § 33-23-28, enacted by Ga. L. 1992, p. 2830, § 1; Ga. L. 1999, p. 878, § 6; Ga. L. 2001, p. 925, § 1; Ga. L. 2008, p. 1076, § 15/SB 113.