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27-7-5
Section 27-7-5 Licenses - Qualifications. (a) An individual applying for a resident
insurance producer license shall make application to the commissioner on the Uniform Application,
and an individual applying for a service representative license shall make application to
the commissioner on the application prescribed by the commissioner, each declaring under penalty
of refusal, suspension, or revocation of the license that the statements made in the application
are true, correct, and complete to the best of the individual's knowledge and belief. Before
approving the application, the commissioner shall find that the individual has satisfied all
of the following: (1) The individual is at least 18 years of age. (2) The individual has not
committed any act that is a ground for denial, suspension, or revocation set forth in Section
27-7-19. (3) The individual has completed a prelicensing course of study for the lines of
authority for which the person has applied, consisting of 20 classroom...
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27-7-23
Section 27-7-23 Temporary license - Generally. (a) The commissioner may, in his or her
discretion, issue a temporary producer license without requiring an examination or prelicensing
course if the commissioner deems the temporary license is necessary for the servicing of an
insurance business in any of the following cases: (1) To the surviving spouse or court-appointed
personal representative of a licensed producer who dies or becomes mentally or physically
disabled to allow adequate time for the sale of the insurance business owned by the producer
or for the recovery or return of the producer to the business or to provide for the training
and licensing of new personnel to operate the producer's business. (2) To a member or employee
of a business entity which is licensed as a producer, upon the death or disability of the
individual designated in the business entity application or the license. (3) To the designee
of a licensed producer entering active service in the Armed Forces of the...
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27-9A-6
Section 27-9A-6 Application for license. (a) An individual applying for a resident independent
adjuster license shall apply to the commissioner on the appropriate NAIC Uniform Individual
Application and declare under penalty of suspension, revocation, or refusal of the license
that the statements made in the application are true, correct, and complete to the best of
the individual's knowledge and belief. Before approving the application, the commissioner
shall find that the individual: (1) Is at least 18 years of age. (2) Is eligible to designate
this state as his or her home state. (3) Has not committed any act that is a ground for probation,
suspension, revocation, or refusal of an independent adjuster's license as set forth in Section
27-9A-12. (4) Has completed a prelicensing course of study for the line of authority for which
the person has applied. (5) Has successfully passed the examination for the line of authority
for which the person has applied. (6) Has paid the fees set...
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27-60-2
Section 27-60-2 Interstate Insurance Product Regulation Compact. The State of Alabama
hereby agrees to the following interstate compact known as the Interstate Insurance Product
Regulation Compact: ARTICLE I. PURPOSES. The purposes of this compact are, through means of
joint and cooperative action among the compacting states: 1. To promote and protect the interest
of consumers of individual and group annuity, life insurance, disability income, and long-term
care insurance products; 2. To develop uniform standards for insurance products covered under
the compact; 3. To establish a central clearinghouse to receive and provide prompt review
of insurance products covered under the compact and, in certain cases, advertisements related
thereto, submitted by insurers authorized to do business in one or more compacting states;
4. To give appropriate regulatory approval to those product filings and advertisements satisfying
the applicable uniform standard; 5. To improve coordination of...
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27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus
Lines Insurance Multi-State Compliance Compact Act is enacted into law and entered into with
all jurisdictions mutually adopting the compact in the form substantially as follows: PREAMBLE
WHEREAS, with regard to Non-Admitted Insurance policies with risk exposures located in multiple
states, the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted
and Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-61-1.htm - 62K - Match Info - Similar pages
27-7-4.3
Section 27-7-4.3 Licenses - Insurance producer examination. (a) A resident individual
applying for an insurance producer license shall pass a written examination unless exempt
pursuant to Section 27-7-5 or 27-7-29.1. The examination shall test the knowledge of
the individual concerning the lines of authority for which application is made, the duties
and responsibilities of an insurance producer, and the insurance laws and regulations of this
state. Examinations required by this section shall be developed and conducted under
rules and regulations prescribed by the commissioner. (b) The commissioner may make arrangements,
including contracting with an outside testing service, for administering examinations and
collecting the nonrefundable fee set forth in Section 27-4-2. (c) Each individual applying
for an examination shall remit a nonrefundable fee prescribed by the commissioner as set forth
in Section 27-4-2. (d) An individual who fails to appear for the examination as scheduled
or...
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27-10-24
Section 27-10-24 Licensing of surplus line brokers. (a) Any person, while licensed as
a resident insurance producer in this state for the property lines of authority and who is
deemed by the commissioner to have had sufficient experience in the insurance business to
be competent for the purpose may be licensed as a surplus line broker for the types and kinds
of insurance that he or she as a resident producer is licensed to handle as follows: (1) Application
to the commissioner for the license shall be made on forms as designated and furnished by
the commissioner. (2) License fee in the amount stated in Section 27-4-2 shall be paid
to the commissioner. The license shall expire on December 31 next after its issue. (3) Prior
to the issuance of the license, the applicant shall file with the commissioner, and thereafter
for as long as any license remains in effect he or she shall keep in force and unimpaired,
a bond in favor of the State of Alabama in the penal sum of at least fifty...
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27-7-29.1
Section 27-7-29.1 Exemptions for individuals licensed in other state. (a) An individual
who applies for an insurance producer license in this state who was previously licensed for
the same lines of authority in another state shall not be required to complete any prelicensing
education or examination. This exemption is only available if the person is currently licensed
in that state or if the application is received within 90 days of the cancellation of the
applicant's previous license and if the prior state issues a certification that, at the time
of cancellation, the applicant was in good standing in that state or the state's producer
database records, maintained by the NAIC, its affiliates or subsidiaries, indicate that the
producer is or was licensed in good standing for the line of authority requested. (b) A person
licensed as an insurance producer in another state who moves to this state shall, within 90
days of establishing legal residence, make application to become a resident...
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27-8A-1
Section 27-8A-1 Continuing education requirements for insurance producers or service
representatives. (a) Any individual licensed in this state as an insurance producer or service
representative for the lines of insurance listed in subsection (b), and not exempt under subsection
(c), shall satisfactorily complete a minimum of 24 classroom hours of courses, programs of
instruction, or seminars as may be approved by the commissioner pursuant to this chapter,
three hours of which shall be on the topic of insurance producer ethics, reported to the commissioner
on a biennial basis in conjunction with the license renewal cycle. No person licensed for
more than one line of authority shall be required to complete a greater number of classroom
hours than is required of a person holding a license for a single line of authority. (b) This
chapter shall apply to all individuals licensed in this state as insurance producers and service
representatives for the following kinds of insurance: (1) The...
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27-9A-8
Section 27-9A-8 Prelicensing course and examination. (a)(1) Every individual subject
to the examination required in subsection (b) shall first complete a prelicensing course consisting
of 20 classroom hours per line of authority, or equivalent individual instruction. (2) The
prelicensing course shall have been completed within 12 months before the date of the related
examination as shown on the certificate furnished by the prelicensing course provider. (3)
Every prelicensing course provider shall apply annually for the continued authority to issue
certificates of completion under rules to be prescribed by the commissioner. (4) At the time
of initial approval and annually thereafter, the commissioner shall collect from each prelicensing
course provider a fee set by the commissioner not to exceed one hundred dollars ($100). The
fee shall be deposited in the State Treasury to the credit of the Insurance Department Fund.
Public institutions shall be exempt from paying the fee, but shall...
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