Within how many working days after a Georgia replacement application is received must the replacing insurer notify the existing insurer that a replacement is occurring?

Why this is the answer

Ga. Comp. R. & Regs. 120-2-24-.07, part of Georgia's Replacement of Life Insurance Policies regulation, requires the replacing insurer to mail the existing insurer a copy of the Replacement Notice and a written communication advising of the replacement within three working days of the date the application is received in its home or regional office, or the date the proposed policy is issued, whichever is sooner. The existing insurer then has ten working days to furnish a policy summary statement to its policyholder if one is requested (120-2-24-.06); Georgia's rule sets no conservation period. Producers are responsible for getting the signed Replacement Notice and the list of existing insurance to be replaced to the replacing insurer with the application so the carrier can meet this deadline.