Ala. Admin. Code r. 482-1-153-.04

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

Section 482-1-153-.04 - Renewal Of Licenses

(1) All portable electronics insurance vendors licensed in Alabama are limited lines insurance producers and are thus subject to the same renewal requirements of insurance producers as set forth in Chapter 482-1-110, except they are not required to complete any continuing education requirements. The initial renewal schedules for licensees are set forth in this rule.

(2)

(a) As set forth in Chapter 482-1-110, individual licensees shall renew their license biennially based on their month and year of birth.

(b) Licensees Born in Even-numbered Years. Beginning in the year 2014, the license of an individual licensee born in an even-numbered year will expire if not renewed at the end of the licensee's birth month in 2014 and every other year thereafter.

(c) Licensees Born in Odd-numbered Years. Beginning in the year 2015, the license of an individual licensee born in an odd-numbered year will expire if not renewed at the end of the licensee's birth month in 2015 and every other year thereafter.

(d) 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 Rule 482-1-153-.03. 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, by paying the applicable fee set forth in Rule 482-1-153-.03.

(3)

(a) Expiration of Business Entity Licenses in 2014 and Thereafter. Beginning in 2014, the license of all business entity vendors shall expire if not renewed on December 31 of 2014 and every other year thereafter, as set forth in Chapter 482-1-110.

(b) All business entity licensees 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 Rule 482-1-153-.03. 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, by paying the applicable fee set forth in Rule 482-1-153-.03.

Ala. Admin. Code r. 482-1-153-.04

New Rule: July 29, 2013; effective August 8, 2013. Filed with LRS July 29, 2013. Rule is not subject to the Alabama Administrative Procedure Act.

Authority: Commissioner of Insurance

Statutory Authority:Code of Ala. 1975, §§ 27-2-17, 27-22A-7.