Georgia Code Title 33. Insurance § 33-63-3

(1) “Administrator” means a person, other than an insurer or creditor, that performs administrative or operational functions pursuant to guaranteed asset protection waiver programs.

(2) “Borrower” means a debtor, retail buyer, or lessee under a finance agreement.

(3) “Creditor” means:

(4) “Finance agreement” means a loan, lease, or retail installment sales contract for the purchase or lease of a motor vehicle.

(5) “Free look period” means the period of time from the effective date of the guaranteed asset protection waiver until the date the borrower may cancel the guaranteed asset protection waiver without penalty, fees, or costs to the borrower. This period of time must not be shorter than 30 days.

(6) “Guaranteed asset protection waiver” means a contractual agreement wherein a creditor agrees, with or without a separate charge, to cancel or waive all or part of amounts due on a borrower's finance agreement in the event of a total physical damage loss or unrecovered theft of the motor vehicle, which agreement must be part of, or a separate addendum to, the finance agreement or a contractual agreement wherein a creditor agrees, with or without a separate charge, to cancel or waive all or part of the excess wear and use charges owed by the borrower to the creditor under the lease contract when the borrower returns a leased vehicle to the creditor at termination of the lease, which agreement must be part of, or a separate addendum to, the lease contract. Such waiver may also provide, with or without a separate charge, a benefit that waives an amount, or provides a borrower with a credit, toward the purchase of a replacement vehicle.

(7) “Insurer” means an insurance company licensed, registered, or otherwise authorized to do business under the insurance laws of this state.

(8) “Motor vehicle” means self-propelled or towed vehicles designed for personal or commercial use, including but not limited to automobiles, trucks, motorcycles, recreational vehicles, all-terrain vehicles, campers, boats, personal watercraft, and motorcycle, boat, camper, and personal watercraft trailers.

(9) “Person” includes an individual, company, association, organization, partnership, business trust, corporation, and every form of legal entity.

(10) “Retail buyer” shall have the same meaning as provided in Code Section 10-1-31.

(11) “Retail installment seller” shall have the same meaning as provided in Code Section 10-1-31.