State RegulationsGA specificDifficulty 1/5
Under O.C.G.A. § 33-23-35(c), the willful misappropriation or conversion of premium funds by a Georgia producer is a misdemeanor, but becomes a felony when the amounts involved exceed:
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
Under O.C.G.A. § 33-23-35(c), willful violation of the premium fiduciary rules is a misdemeanor, but it becomes a felony when the amounts involved exceed $1,000. Georgia producers must treat premium funds as trust money because misappropriation crosses from misdemeanor to felony at that threshold, in addition to Insurance Commissioner discipline.
Why the other options are wrong
- A) The felony threshold under O.C.G.A. § 33-23-35(c) is $1,000, not a lower figure.
- B) No $5,000 threshold exists in O.C.G.A. § 33-23-35(c); the felony line is $1,000.
- C) The threshold is $1,000 under O.C.G.A. § 33-23-35(c), not a three-figure amount.
Memory hook
Steal premiums over $1,000 and the misdemeanor becomes a felony — four figures, felony.