A Georgia P&C agency collects premium from an insured but has not yet remitted it to the carrier. Under O.C.G.A. § 33-23-35, how must those funds be handled?

Why this is the answer

O.C.G.A. § 33-23-35(b) requires all premiums received, and return premiums due to insureds, to be accounted for in the licensee's fiduciary capacity, kept from being commingled with the licensee's own funds, and promptly paid to the insurer, insured, or agent entitled to them. The statute does not require a separate bank account for each insurer if each principal's funds are reasonably ascertainable from the books. A violation is grounds for probation, suspension, or revocation and for fines; a willful violation is a misdemeanor, or a felony if more than $1,000 is involved (§ 33-23-35(c)).