Ala. Admin. Code r. 482-1-078-.03

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

Section 482-1-078-.03 - Scope Of Regulation

This chapter shall be applicable to individual policies of life, accident and health insurance and annuities when the premium payment or annuity consideration is made through an agent. Nothing herein shall apply to policies on which premium payments are paid through direct response sales, financial institutions (a bank holding company, a bank or a subsidiary or employee thereof, situated and doing business in Alabama, where such bank or bank holding company is subject to regulation by the Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency of the United States, Federal Deposit Insurance Corporation, or the State Banking Department of the State of Alabama), mortgage bankers, savings and loan associations, savings banks, finance companies or credit unions and employment deductions.

New Rule: November 14, 1986; effective February 14, 1987. Filed for codification in the Alabama Administrative Code by the Department of Insurance on April 23, 2004, pursuant to the Code of Ala. 1975, § 27-7-43. Revised: June 11, 2009; effective July 1, 2009. Filed with LRS June 12, 2009. Rule is not subject to the Alabama Administrative Procedure Act.

Author: Commissioner of Insurance

Statutory Authority:Code of Ala. 1975, § 27-2-17, et al.