GeorgiaHB 4102025-2026 Regular SessionHouseWALLET

Insurance, Department of; efficiency in the practices; provide

Sponsored By: Buddy DeLoach (Republican), Eddie Lumsden (Republican), Bruce Williamson (Republican)

Signed by Governor

InsuranceInsurance and LaborGeneral Bill

Your PRIA Score

Score Hidden

Personalized for You

How does this bill affect your finances?

Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.

Free to start

Bill Overview

Analyzed Economic Effects

7 provisions identified: 2 benefits, 0 costs, 5 mixed.

Forming a farmers' mutual insurer

At least 20 people can form a farmers' mutual fire insurer, and a majority must be Georgia citizens. File the application in triplicate. Include the name with “Farmers’ Mutual,” the purpose, the principal office county, and other counties of operation. List the incorporators’ names and addresses and the initial board’s names and addresses. The Commissioner may require other provisions.

Two insurance fee rules repealed

The law repeals two specific fee rules in the insurance code (33‑8‑1(1)(B.1) and (B.2)). This ends the legal authority to charge those fees. Dollar amounts are not listed here.

Insurance agencies: biennial renewals, clearer licenses

Each principal and branch insurance office must get a state agency license before starting work. You must renew every two years using the Commissioner’s forms. Complete renewal before December 31 that comes before the last day of your origination month. Licenses must show your legal name and address, the issue date, rules for expiration or termination, the kinds of insurance covered, and any other conditions.

Fraternal societies: higher bonds and filings

New fraternal societies must post a bond between $300,000 and $1,500,000 to cover return of advanced payments. The Commissioner must approve the sureties. All filings must be in English, and required notices must be published. Member referendums pass only if a majority of members voting approve within six months, and charter amendments must be filed in triplicate and follow the approval steps. For mergers, societies must follow the filing, fee, and publication rules, and the Secretary of State issues a recorded certificate of merger.

Insurer charters: fees and 45-day decisions

Filing for an insurer charter costs $100, and the Commissioner will not accept the filing until you pay. Amending a charter costs $50, and renewing a charter costs $100. The Commissioner must approve or deny charter and amendment filings within 45 days of receipt. If the Secretary of State is disqualified, the Insurance Commissioner performs those duties. If you do not appoint and file a Georgia attorney for service of process, you face a $100–$500 civil penalty per violation.

Insurers: deposits and asset rules

The law sets insurer deposits at $100,000 for one class of insurance. Each extra class adds $25,000, with a $200,000 cap. For foreign insurers, the Commissioner can accept a current certificate from another state's regulator. Alien insurers (not title) must hold U.S. assets equal to U.S. liabilities plus the larger of Georgia’s biggest required deposit for similar insurers or $300,000.

Stricter steps to dissolve an insurer

To dissolve, a stock insurer needs a two‑thirds vote of voting stockholders. A mutual insurer needs two‑thirds of members present or represented by proxy. You must file the resolution and a certified officer list in triplicate and record one copy with the superior court in your home county. The Commissioner approves charter surrender only after confirming policyholders, creditors, stockholders or members, and other claimants are paid or provided for. After required publications and fees, the Secretary of State issues the dissolution certificate.

Sponsors & Cosponsors

Cosponsors

Marty Harbin
Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 211 • No: 0

Senate vote • 3/28/2025

PASSAGE

Yes: 47 • No: 0

House vote • 2/26/2025