PROFESSIONS AND BUSINESSES Real Estate Brokers and Salespersons: Require Real Estate Brokers to Pay Commission Only to Licensees Who Have Assigned Their License to the Broker\u27s Firm; Ensure a Qualified Broker Will Be Responsible in All Real Estate Business

The Act provides procedures for ensuring that real estate brokerage firms will not pay compensation to a licensed broker unless the broker is assigned to the firm prior to the transaction. The Act requires each brokerage firm to be managed by a real estate broker or qualifying real estate broker who is ultimately responsible for this license assignation. The Act further provides that in any given business enterprise, a qualified broker must be able to bind the business in his capacity either as partner or as corporate officer

PROFESSIONS AND BUSINESSES Real Estate Brokers and Salespersons: Require Real Estate Brokers to Pay Commission Only to Licensees Who Have Assigned Their License to the Broker\u27s Firm; Ensure a Qualified Broker Will Be Responsible in All Real Estate Business

The Act provides procedures for ensuring that real estate brokerage firms will not pay compensation to a licensed broker unless the broker is assigned to the firm prior to the transaction. The Act requires each brokerage firm to be managed by a real estate broker or qualifying real estate broker who is ultimately responsible for this license assignation. The Act further provides that in any given business enterprise, a qualified broker must be able to bind the business in his capacity either as partner or as corporate officer

COURTS Probate Courts: Provide Method for Service of Process on Minors or Incapacitated Adults in Probate Court Proceedings

The Act provides a modernized method for serving process upon minors or incapacitated adults in probate court proceedings. There are two requirements. First, the probate court must mail, by certified mail, a copy of the document being served to the minor or incapacitated adult. Second, the probate court must serve the legal guardian or guardian ad litem. The guardian must acknowledge service and certify that the document has been hand delivered to the minor or incapacitated adult. The court\u27s certificate of service and the guardian\u27s acknowledgment and certification must be filed with the court as proof of this service

COURTS Probate Courts: Provide Method for Service of Process on Minors or Incapacitated Adults in Probate Court Proceedings

The Act provides a modernized method for serving process upon minors or incapacitated adults in probate court proceedings. There are two requirements. First, the probate court must mail, by certified mail, a copy of the document being served to the minor or incapacitated adult. Second, the probate court must serve the legal guardian or guardian ad litem. The guardian must acknowledge service and certify that the document has been hand delivered to the minor or incapacitated adult. The court\u27s certificate of service and the guardian\u27s acknowledgment and certification must be filed with the court as proof of this service

INSURANCE Insurance Generally: Provide for Limited Release of Settling Insurance Carrier and Insured Tortfeasor for Claims Arising out of Motor Vehicle Accidents Covered by Two or More Insurance Carriers

For claims arising out of motor vehicle accidents in which there is multiple insurance coverage, the Act provides that one carrier may settle with the claimant by paying its policy limits and thereby release itself and its insured from further liability except to the extent other insurance coverage may apply. The Act further provides that any carrier not settling shall continue to be liable to the extent of its policy limits. The Act maintains the status quo for bad faith and negligent refusal to settle

PROFESSIONS AND BUSINESSES Real Estate Appraisers: Authorize Board of Appraisers to Issue Temporary Practice Permits for a Single Federally Related Transaction; Prohibit Appraisers from Giving Oral Appraisals of Federally Related Transaction; Prohibit Use of Appraisers Whose Appraisal Classification is Suspended or Revoked

The Act authorizes the Georgia Board of Real Estate Appraisers (the Board) to issue temporary practice permits to appraisers classified outside the state. This authorization brings Georgia legislation in line with federal regulations. The Act further amends the original code section by adding two new violations to the list of violations that result in penalties for appraisers classified in Georgia. The Act further amends the Code by deleting the list of courses of study weighed by the Board when determining appraisal classifications. As it now exists, appraiser classifications must simply be in compliance with federal law

INSURANCE Insurance Generally: Provide for Limited Release of Settling Insurance Carrier and Insured Tortfeasor for Claims Arising out of Motor Vehicle Accidents Covered by Two or More Insurance Carriers

For claims arising out of motor vehicle accidents in which there is multiple insurance coverage, the Act provides that one carrier may settle with the claimant by paying its policy limits and thereby release itself and its insured from further liability except to the extent other insurance coverage may apply. The Act further provides that any carrier not settling shall continue to be liable to the extent of its policy limits. The Act maintains the status quo for bad faith and negligent refusal to settle