State RegulationsGA specificDifficulty 1/5
Under O.C.G.A. § 33-23-35(c), the willful misappropriation of premium funds held in a fiduciary capacity is a misdemeanor, unless:
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under O.C.G.A. § 33-23-35(c), willful violation of the premium fiduciary rules is a misdemeanor, but it rises to a felony when the amount involved exceeds $1,000. The dollar threshold — not the producer's tenure or the insurer's reporting — controls the criminal classification.
Why the other options are wrong
- A) The $500 figure is not the Georgia threshold; the felony line in O.C.G.A. § 33-23-35(c) is $1,000.
- C) The licenseholder's length of experience has no bearing on the criminal classification of the violation.
- D) The statute keys the felony to the amount misappropriated, not to any insurer reporting deadline.
Memory hook
Steal over a grand in premiums — misdemeanor becomes felony.