Ala. Admin. Code r. 482-1-110-.04

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

Section 482-1-110-.04 - Renewal Of Licenses

(1) All producers and service representatives licensed in the State of Alabama are required to complete an application for license renewal with the Department, which shall include the payment of the applicable fees, as set forth below:

(a) For individual producers and service representatives, the biennial license renewal fee as required by Code of Ala. 1975, § 27-8A-9(a) (1) ........................ $ 70.00

(b) For business entity producers, the biennial renewal license fee as required by Code of Ala. 1975, § 27-4-2(a) (5) b.2................................... $100.00

(2)

(a)

1. All individual producers and service representatives shall renew their license biennially based on their month and year of birth as indicated in subparagraphs 2 and 3, except an initial individual license shall not expire within the first ninety (90) days of its effective date but will continue until the next biennial expiration date.

2. Licensees Born in Odd-numbered Years. The license of an insurance representative born in an odd-numbered year will expire if not renewed at the end of the licensee's birth month in every odd-numbered year.

3. Licensees Born in Even-numbered Years. The license of an insurance representative born in an even-numbered year will expire if not renewed at the end of the licensee's birth month in every even-numbered year.

(b) Notice is hereby given that beginning approximately ninety (90) days prior to license expiration, individual licensees can access the Department's Web site for the purpose of completing their application for license renewal.

(c) All individual licensees shall complete an application for license renewal on the Department's Web site by the license expiration date, to include payment of the applicable fee as set forth in Paragraph (1). Any license not renewed by the license expiration date may still be renewed during the first 30 days following expiration, with reinstatement retroactive to the expiration date, but will be subject to a $50 late fee.

(3)

(a) Expiration of Business Entity Producer Licenses. All business entity producer licenses shall expire if not renewed on December 31 of every even-numbered year, except an initial business entity license issued on or after October 1 of an even-numbered year shall not expire until December 31 of the next even-numbered year.

(b) Notice is hereby given that beginning on October 15 next preceding license expiration, business entity producers can access the Department's Web site for the purpose of completing their application for license renewal.

(c) All business entity producers shall complete an application for license renewal on the Department's Web site prior to license expiration, to include payment of the applicable fee as set forth in Paragraph (1). Any license not renewed by the license expiration date may still be renewed during the first 30 days following expiration, with reinstatement retroactive to the expiration date, but will be subject to a $50 late fee.

Ala. Admin. Code r. 482-1-110-.04

New Rule: September 15, 1994; effective October 1, 1994. Amended: September 23, 1996; effective October 3, 1996. Amended: December 16, 1998; effective January 1, 1999. Amended: August 19, 2002; effective August 29, 2002. Filed with LRS August 19, 2002. Rule is not subject to the Alabama Administrative Procedure Act. Amended: Filed November 29, 2006; effective December 9, 2006. Filed with LRS November 29, 2006. Rule is not subject to the Alabama Administrative Procedure Act. Amended: Filed September 5, 2007; effective September 15, 2007. Filed with LRS September 5, 2 007. Rule is not subject to the Alabama Administrative Procedure Act. Amended: Filed December 11, 2007; effective December 21, 2007. Filed with LRS December 11, 2 007. Rule is not subject to the Alabama Administrative Procedure Act. Amended: Filed October 18, 2012; effective October 28, 2012. Filed with LRS October 18, 2012. Rule is not subject to the Alabama Administrative Procedure Act.

Amended by Alabama Administrative Monthly Volume XXXIII, Issue No. 11, August 31, 2015, eff. 1/1/2016.

Amended by Alabama Administrative Monthly Volume XXXVI, Issue No. 09, June 29, 2018, eff. 1/1/2019. Rule is not subject to the Alabama Administrative Procedure Act.

Author: Commissioner of Insurance

Statutory Authority:Code of Ala. 1975, §§ 27-2-17, 27-7-43, 27-8A-1, et seq.