Ala. Admin. Code r. 482-1-072-.02

Current through Register Vol. 43, No. 1, October 31, 2024

Section 482-1-072-.02 - Purpose

The purposes of this chapter are:

(1) To regulate the activities of insurers and producers, with respect to the collection of monies for certain types of insurance coverages;

(2) To assure that the prospective policyowner receives adequate proof of payment for insurance purchased;

(3) To reduce the opportunity for misrepresentation and/or incomplete disclosures; and

(4) To establish penalties for failure to comply with the requirements of this chapter.

Author: Commissioner of Insurance

Ala. Admin. Code r. 482-1-072-.02

New Rule: July 7, 1982; effective October 1, 1982. Revised: December 22, 2004; effective January 1, 2005. Filed with LRS December 22, 2004. Rule is not subject to the Alabama Administrative Procedure Act.

Statutory Authority:Code of Ala. 1975, §§ 27-2-17; 27-2-7(4).