Ala. Admin. Code r. 482-1-163-.01

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

Section 482-1-163-.01 - Purpose, Scope, And Authority

(1) The purpose of this chapter is to set forth the view of the Alabama Commissioner of Insurance and the Department of Insurance about whether a Value-Added Service or Product, as defined in this chapter, constitutes an inducement for insurance or an annuity, a rebate, or any other impermissible consideration, as those terms are used in Code of Ala. 1975, §§ 27-12-12 and 27-12-14.

(2) This chapter is adopted pursuant to Code of Ala. 1975, §§ 27-2-17, 27-12-12, and 27-12-14.

Adopted by Alabama Administrative Monthly Volume XXXVII, Issue No. 11, August 30, 2019, eff. 9/1/2019. Filed with LSA August8,2019. Rule is not subject to the Alabama Administrative Procedure Act.

Author: Commissioner of Insurance

Statutory Authority:Code of Ala. 1975, §§ 27-2-17, 27-12-12, 7-12-14.