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GA HB463
Bill
Status
Passed
5/1/2012
Primary Sponsor
Ellis Black
Click for details
AI Summary
- Authorizes the Georgia Insurance Commissioner to issue limited licenses to self-service storage facility owners, allowing them to sell personal property insurance to occupants in connection with rental agreements
- Coverage is limited to loss of or damage to personal property stored at the facility during the rental agreement period, offered as either individual or group policies through a licensed insurer
- Requires limited licensees to provide prospective occupants with written disclosures including coverage terms, insurer identity, claims process, pricing, deductibles, potential duplication of existing coverage, and cancellation/refund rights
- Employees of licensed owners may sell coverage under the owner's supervision without a prelicensing examination, but must complete a training program conducted by a licensed instructor covering the authorized insurance products
- Effective date of July 1, 2012; limited licensees remain subject to all penalties, fines, and criminal sanctions under Georgia's insurance code for any violations
Legislative Description
Limited licenses; insurance coverage on self-service storage; provide
Last Action
Effective Date
7/1/2012
Committee Referrals
Insurance and Labor2/28/2012
Insurance3/4/2011
Full Bill Text
No bill text available