Georgia § 33-23-35 - Reporting and disposition of premiums.
Full text of Georgia Official Code of Georgia Annotated § 33-23-35 — Reporting and disposition of premiums., with citation guidance and answers to common questions.
§ 33-23-35. Reporting and disposition of premiums.
An agent, limited subagent, or any other representative of an insurer or of any other person in the effectuation of an insurance contract shall report to the insurer or its agent the premium for the contract and the amount shall be shown in the contract. Each willful violation of this subsection shall constitute a misdemeanor. All funds representing premiums received or return premiums due the insured by any agent or subagent shall be accounted for in the licensee's fiduciary capacity, shall not be commingled with the licensee's personal funds, and shall be promptly accounted for and paid to the insurer, insured, or agent as entitled to such funds. Nothing contained in this Code section shall be deemed to require any agent or subagent to maintain a separate bank deposit for the funds of each principal, if the funds so held for each principal are reasonably ascertainable from the books of accounts and records of the agent or subagent. Any violation of this Code section shall constitute grounds or cause for action by the Commissioner, including, but not limited to, probation, suspension, or revocation of the license. Each and every act by a licensee shall also constitute grounds for fines and penalties, which amounts shall be set by rule or regulation of the Commissioner. Any willful violation of this Code section shall constitute a misdemeanor unless such amounts involved exceed $1,000.00, whereby such violation shall constitute a felony. (Code 1981, § 33-23-35 , enacted by Ga. L. 1992, p. 2830, § 1; Ga. L. 2001, p. 925, § 1; Ga. L. 2008, p. 1076, § 18/SB 113; Ga. L. 2019, p. 386, § 15/SB 133.) The 2019 amendment, effective July 1, 2019, substituted "$1,000.00" for "$500.00" in the third sentence of subsection (c). Cross references. - Theft by conversion, § 16-8-4 .
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 33-23-35
What does Official Code of Georgia Annotated § 33-23-35 cover?
Section 33-23-35 ("Reporting and disposition of premiums.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 33-23-35?
A common citation format is "Official Code of Georgia Annotated § 33-23-35" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 33-23-35 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.