Title 33 — Title 33
0 chapters · 1,218 sections in this title.
O.C.G.A. § 33-63-1 Legislative findings
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The General Assembly finds that guaranteed asset protection waivers are not insurance. All guaranteed asset protection waivers issued on or after the date of enactment of this chapter shall not be construed as insurance. History. — Code 1981, § 33-63-1, enacted by Ga. L. 2008, p. …
O.C.G.A. § 33-63-2 Exempt transactions, §33-63-8
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Fiduciary duties toward funds received, §33-63-4. Free look period. Defined, §33-63-3. Disclosures required regarding rights of cancellation, §33-63-6. Right to refund on cancellation within time period, §33-63-7. Unearned portion, refund upon cancellation after free look period, …
O.C.G.A. § 33-63-3 Definitions
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The following terms are defined for purposes of this chapter and are not intended to provide actual terms required in guaranteed asset protection waivers: (1) ‘‘Administrator’’ means a person, other than an insurer or creditor, that performs administrative or operational functions…
O.C.G.A. § 33-63-4 Legislative findings
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Purpose; exemptions from applicability of chapter; guaranteed asset protection waivers exempt from state’s insurance laws. Definitions. Offering, selling, or providing to borrowers guaranteed asset protection waivers.
O.C.G.A. § 33-63-5 Contractual liability or other insurance policies
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(a) Contractual liability or other insurance policies insuring guaranteed asset protection waivers must state the obligation of the insurer to reimburse or pay to the creditor any sums the creditor is legally obligated to waive under the guaranteed asset protection waivers issued…
O.C.G.A. § 33-63-6 Required disclosures
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Guaranteed asset protection waivers must disclose, as applicable, in writing and in clear, understandable language that is easy to read, the following: (1) The name and address of the initial creditor and the borrower at the time of sale and the identity of any administrator if d…
O.C.G.A. § 33-63-7 Cancellation
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(a) Guaranteed asset protection waiver agreements may be cancelable or noncancelable after the free look period. Guaranteed asset protection waivers must provide that if a borrower cancels a waiver within the free look period, the borrower will be entitled to a full refund of the…
O.C.G.A. § 33-63-8 Exempted commercial transactions
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Subsection (c) of Code Section 33-63-4 and Code Sections 33-63-6 and 33-63-9 shall not be applicable to a guaranteed asset protection waiver offered in connection with a lease or retail installment sale associated with a commercial transaction. History. — Code 1981, § 33-63-8, en…
O.C.G.A. § 33-63-9 Commissioner to enforce provisions; penalty for violations
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The Commissioner may take action which is necessary or appropriate to enforce the provisions of this chapter and to protect guaranteed asset protection waiver holders in this state. After proper notice and opportunity for hearing, the Commissioner may: (1) Order the creditor, adm…