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GA HB220
Bill
Status
2/3/2025
Primary Sponsor
Martin Momtahan
Click for details
AI Summary
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Requires insurers paying third-party claims for automobile damage to issue payment jointly to both the third party and the senior lienholder of record, according to their respective interests in ownership records
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Mandates insurers include a printed warning on loss estimates that misusing insurance proceeds may violate Georgia theft by conversion law (Code Section 16-8-4) and directs claimants to contact their lending institution with questions
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Expands the scope of covered policies to include all automobile liability insurance policies that pay third-party benefits, beyond just those covering loss of use, towing, and storage costs
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Effective date of July 1, 2025, applying to all liability insurance policies issued, delivered, or renewed in Georgia on or after that date
Legislative Description
Insurance; insurer under a liability policy to pay a third party and the senior lienholder under certain circumstances; provide
Last Action
House Second Readers
2/5/2025