Georgia legislation · 2025-2026 Regular Session
Georgia HB1554: Collateral Protection Insurance Act; enact
Status: In committee, March 19, 2026
A BILL to be entitled an Act to amend Chapter 24 of Title 33 of the O.C.G.A., relating to insurance generally, so as to provide for collateral protection insurance; to provide for related matters; to provide for a short title; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes.
What the bill says
To amend Chapter 24 of Title 33 of the Official Code of Georgia Annotated, relating to insurance generally, so as to provide for collateral protection insurance; to provide for legislative intent; to provide for applicability; to provide for definitions; to provide for requirements for collateral protection insurance policy terms; to provide for restrictions on insurance charges made to mortgagors; to provide for the calculation of coverage and premiums; to require certain excess replacement cost coverage to be paid to the mortgagor…
From the introduced text:
A BILL TO BE ENTITLED To amend Chapter 24 of Title 33 of the Official Code of Georgia Annotated, relating to insurance generally, so as to provide for collateral protection insurance; to provide for legislative intent; to provide for applicability; to provide for definitions; to provide for requirements for collateral protection insurance policy terms; to provide for restrictions on insurance charges made to mortgagors; to provide for the calculation of coverage and premiums; to require certain excess replacement cost coverage to be paid to the mortgagor; to prohibit insurers from writing collateral insurance having certain premium rates; to prohibit certain practices by insurers and insurance agents; to provide for certain requirements for the delivery and contents of policies or certificates of collateral protection insurance; to specify requirements for the filing of policy forms and rates; to require certain insurers to file annual reports with the Department of Insurance; to provide for statutory construction; to provide for related matters; to provide for a short title; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes. BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: SECTION 1. This Act shall be known and may be cited as the "Collateral Protection Insurance Act." H. B. 1554 LC 46 1509 SECTION 2. Chapter 24 of Title 33 of …
Sponsors
- Howard, Karlton (D, 129) · primary sponsor
- Kimberly New (R, 40)
- David Huddleston (R, 72)
- Tyler Smith (R, 18)
Latest actions
- : House Second Readers
- : House First Readers
- : House Hopper
Common questions
- What is HB1554?
- HB1554 is a bill in the Georgia Legislature (2025-2026 Regular Session): Collateral Protection Insurance Act; enact.
- What does HB1554 do?
- In its own words: To amend Chapter 24 of Title 33 of the Official Code of Georgia Annotated, relating to insurance generally, so as to provide for collateral protection insurance; to provide for legislative intent; to provide for applicability; to provide for definitions; to provide for requirements for collateral protection insurance policy terms; to provide for restrictions on insurance charges made to mortgagors; to provide for the calculation of coverage and premiums; to require certain excess replacement cost coverage to be paid to the mortgagor…
- What is the status of HB1554?
- In committee as of March 19, 2026. Latest action: House Second Readers (March 19, 2026).
- Who sponsored HB1554?
- Howard, Karlton (D, 129), with 3 co-sponsors.
- Where is the official record for HB1554?
- On the Georgia Legislature website: https://www.legis.ga.gov/legislation/74099
Source: official Georgia record. Tracked by Delilah, AI for legislation across all 50 states and Congress.