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27-8A-6
Section 27-8A-6 Compliance with requirements. Neither an employer of a producer or service
representative nor any insurer appointing a producer or service representative shall be responsible
or liable in any way for the failure of any producer or service representative to meet the
requirements of this chapter or to maintain the necessary records. No employer or insurer
shall be required to investigate or inquire whether the producer or service representative
has met the requirements specified herein prior to the individual becoming appointed as a
producer or service representative for the employer or insurer. The responsibility for complying
with the requirements of Sections 27-8A-1 and 27-8A-2 shall rest solely on the producer or
service representative. (Acts 1996, No. 96-343, p. 423, §6; Act 2001-702, p. 1509, §14;
Act 2012-312, p. 685, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-8A-6.htm - 1K - Match Info - Similar pages
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
27-7-1
Section 27-7-1 Definitions. For the purposes of this chapter, the following terms shall have
the meanings respectively ascribed to them by this section: (1) BUSINESS ENTITY. A corporation,
association, partnership, limited liability company, limited liability partnership, or other
legal entity. (2) COMMISSIONER. The Alabama Commissioner of Insurance. (3) HOME STATE. The
District of Columbia and any state or territory of the United States in which an insurance
producer maintains his or her principal place of residence or principal place of business
and is licensed to act as an insurance producer. (4) INSURANCE. As defined in Section 27-1-2.
(5) INSURANCE PRODUCER or PRODUCER. A person required to be licensed under the laws of this
state to sell, solicit, or negotiate insurance. (6) INSURER. As defined in Section 27-1-2.
For the purposes of this chapter, insurer shall also mean an insurance company licensed pursuant
to Chapter 3, commencing with Section 27-3-1 of this title; a health...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-1.htm - 7K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-8A-1.htm - 3K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-23.htm - 3K - Match Info - Similar pages
27-7-5.2
Section 27-7-5.2 Licenses - Limited license for travel insurance producers. (a) As used in
this section, the following terms shall have the following meanings: (1) OFFER AND DISSEMINATE.
Provide general information, including a description of the coverage and price, as well as
processing the application, collecting premiums, and performing other non-licensable activities
permitted by the state. (2) TRAVEL INSURANCE. a. Insurance coverage for personal risks incident
to planned travel, including, but not limited to: 1. Interruption or cancellation of trip
or event. 2. Loss of baggage or personal effects. 3. Damages to accommodations or rental vehicles.
4. Sickness, accident, disability, or death occurring during travel. b. Travel insurance does
not include major medical plans which provide comprehensive medical protection for travelers
with trips lasting six months or longer, including for example, those working overseas or
military personnel being deployed. (3) TRAVEL INSURANCE...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-5.2.htm - 6K - Match Info - Similar pages
27-7-5.3
Section 27-7-5.3 Licenses - Limited license for self-service storage facility. (a) As used
in this section, the following terms shall have the following meanings: (1) LIMITED LICENSEE.
A person or entity authorized to sell certain coverages for personal property maintained in
self-service storage facilities pursuant to this section. (2) OCCUPANT. A person, his or her
sublessee, successor, or assign entitled to the use of the storage space at a self-service
storage facility under a rental agreement, to the exclusion of others. (3) OWNER. The owner,
operator, lessor, or sublessor of a self-service storage facility, his or her agent, or any
other person authorized by him or her to manage the self-service storage facility or to receive
rent from an occupant under a rental agreement. (4) PERSONAL PROPERTY. Any movable property
not affixed to land including, but not limited to, goods, wares, merchandise, motor vehicles,
watercraft, and household items and furnishings. (5) RENTAL AGREEMENT....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-5.3.htm - 7K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-5.htm - 6K - Match Info - Similar pages
27-7-4.1
Section 27-7-4.1 Licenses - Required to receive payment, etc. (a) No insurer or producer shall
pay, directly or indirectly, any commission or other valuable consideration to any person
for services as a producer or service representative within this state unless the person holds
a currently valid license as a producer or service representative as to the kind or class
of business involved as required by this chapter. (b) Any insurer or producer violating this
section shall be liable for a fine in an amount of up to three times the amount of the commission
paid. The fine shall be levied and collected by the commissioner. Upon failure to pay the
fine the commissioner may, in the commissioner's discretion, revoke the license of the producer
or the insurer's certificate of authority. (c) The provisions of this section shall not prevent
any of the following: (1) Payment of renewal or other deferred commissions to any person solely
because the person has ceased to hold a license to act as a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-4.1.htm - 1K - Match Info - Similar pages
27-7-4.2
Section 27-7-4.2 Licenses - Applicability to insurance producer. (a) Nothing in this chapter
shall be construed to require an insurer to obtain an insurance producer license. In this
section, the term "insurer" does not include an insurer's officers, directors, employees,
subsidiaries, or affiliates. (b) A license as an insurance producer shall not be required
of any of the following: (1) An officer, director, or employee of an insurer or of an insurance
producer, provided that the officer, director, or employee does not receive any commission
on policies written or sold to insure risks residing, located, or to be performed in this
state and any of the following: a. The officer, director, or employee's activities are executive,
administrative, managerial, clerical, or a combination of these, and are only indirectly related
to the sale, solicitation, or negotiation of insurance. b. The officer, director, or employee's
function relates to underwriting, loss control, inspection, or the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-4.2.htm - 4K - Match Info - Similar pages
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