State RegulationsGA specificDifficulty 1/5
Following the death of a licensed Georgia agent, the insurer asks the Commissioner to issue a temporary license so that the agent's in-force business can be serviced. For how long is the temporary license initially issued, and what is the maximum total duration?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Under O.C.G.A. § 33-23-13, the Commissioner may issue a temporary license for 6 months upon an agent's death, disability, or termination, or at an insurer's request. The temporary license may be renewed, but the maximum total duration is 15 months, after which the business must be transferred to a regularly licensed producer or otherwise disposed of.
Why the other options are wrong
- B) The initial period is 6 months, not 3 months, and the maximum total duration is 15 months, not 6 months.
- C) The 6-month initial period is correct, but 24 months exceeds the statutory maximum total duration of 15 months.
- D) The initial issuance is for 6 months, not 12 months; the 15-month maximum is the only correct element in this option.
Memory hook
6 to start, 15 at most — temporary means temporary.