Ala. Admin. Code r. 482-1-107-.03
Current through Register Vol. 43, No. 02, November 27, 2024
Section 482-1-107-.03 - Who Must File(1) The following must be licensed in this state as a reinsurance intermediary: (a) Any person, firm, association or corporation acting as a reinsurance intermediary broker (RB) in this state, if the RB maintains an office (either directly or as a member or employee of a firm or association, or an officer, director or employee of a corporation): 1. In this state, unless the RB is licensed and appointed as an insurance producer of the reinsurer in this state or is a licensed insurance broker in this state.2. In another state, unless the RB is licensed and appointed as an insurance producer of the reinsurer in this state, or is a licensed insurance broker in this state, or is a licensed insurance producer, broker or reinsurance intermediary in another state having a law substantially similar to the Alabama Reinsurance Intermediary Act.(b) Any person, firm, association or corporation acting as a reinsurance intermediary manager (RM): 1. For a reinsurer domiciled in this state, unless the RM is licensed and appointed as an insurance producer of the reinsurer in this state.2. In this state, if the RM maintains an office (either directly or as a member or employee of a firm or association, or an officer, director or employee of a corporation) in this state, unless the RM is licensed and appointed as an insurance producer of the reinsurer in this state.3. In another state for a nondomestic reinsurer (which is a duly licensed insurer in this state), unless the RM is licensed and appointed as an insurance producer of the reinsurer in this state, or is a licensed insurance producer or reinsurance intermediary in another state having a law substantially similar to the Alabama Reinsurance Intermediary Act.(2) Licensed attorneys at law of this state, when acting in their professional capacity, shall be exempt from this chapter. Author: Commissioner of Insurance
Ala. Admin. Code r. 482-1-107-.03
New: August 1, 1994; effective August 11, 1994. Filed for codification in the Alabama Administrative Code by the Department of Insurance on November 14, 2005, pursuant to the Code of Ala. 1975, § 27-7-43.Statutory Authority:Code of Ala. 1975, §§ 27-2-17, 27-5A-12.