All insurance charges, fees, or premiums collected by an administrator on behalf of or for an insurer, insurers, or self-insurer, and return premiums received from such insurer, insurers, or self-insurer, shall be held by the administrator in a fiduciary capacity. Such funds shall be immediately remitted to the person or persons entitled thereto, or shall be deposited promptly in a fiduciary bank account established and maintained by the administrator. If charges or premiums so deposited have been collected on behalf of or for more than one insurer, or self-insurer, the administrator shall cause the bank in which such fiduciary account is maintained to keep records clearly recording the deposits in and withdrawals from such account on behalf of or for each insurer and for each self-insurer. The administrator shall promptly obtain and keep copies of all such records and, upon request of an insurer, or self-insurer, shall furnish such insurer or self-insurer with copies of such records pertaining to deposits and withdrawals on behalf of or for such insurer or self-insurer. The administrator shall not pay any claim by withdrawals from such fiduciary account. Withdrawals from such account shall be made, as provided in the written agreement between the administrator and the insurer, or self-insurer, for
Ga. Comp. R. & Regs. R. 120-2-49-.08
O.C.G.A. Secs. 33-2-9, 33-23-100et seq., 33-23-104, 33-23-105.