Ala. Admin. Code r. 482-1-117-.15

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

Section 482-1-117-.15 - Licensed Insurance Agent

(1) All policies of consumer credit insurance shall be solicited, negotiated and effectuated by duly licensed agents and no commission or other compensation shall be paid in connection with such insurance to any person other than such licensed agent.

(2) As used in this rule, the term agent shall not include persons who secure and furnish information for the purpose of group life insurance, group or blanket health insurance or for enrolling individuals in such plans, or issuing certificates thereunder or otherwise assisting in administering such plans where no commission is paid to such person for such services. These persons may enroll debtors without any license; however, commissions may be paid on this business only to licensed agents or agencies.

Author: Reyn Norman, Associate Counsel

Ala. Admin. Code r. 482-1-117-.15

New Rule: October 14, 1999; effective November 1, 1999. Filed for codification in the Alabama Administrative Code by the Department of Insurance on January 17, 2003, pursuant to the Code of Ala. 1975, § 27-7-43.

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