Ala. Admin. Code r. 482-1-058-.07

Current through Register Vol. 43, No. 02, November 27, 2024

Section 482-1-058-.07 - Insurers Must Hire Resident Agents To Accept Brokerage Business

Any insurer, or insurer acting through a licensed general agent, is prohibited by Section 27-7-34, Code of Ala. 1975, from accepting business on risks located in this State except through a licensed and appointed insurance producer. For this reason, any insurance company soliciting business from producers not appointed by it must have a duly appointed producer to accept all brokerage business. The appointed producer will be held accountable for all transactions involving brokerage business.

Ala. Admin. Code r. 482-1-058-.07

New Rule: February 17, 1975; effective April 1, 1975. Revised: April 27, 2007; effective May 7, 2007. Filed with LRS April 27, 2007. Rule is not subject to the Alabama Administrative Procedure Act.

Author: Commissioner of Insurance

Statutory Authority:Code of Ala. 1975, § 27-2-17.