Ala. Admin. Code r. 482-1-110-.07

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

Section 482-1-110-.07 - Compliance

(1)

(a) Every producer and service representative subject to this chapter shall complete an application for license renewal in accordance with Rule 482-1-110-.04.

(b) The license of any individual or business entity failing to complete the application for license renewal within the time specified in Paragraph (2) of Rule 482-1-110-.04 will expire but there is a 30-day grace period following the expiration during which time the licensee can renew with payment of the late fee plus the renewal fee. If the licensee shall complete the application for license renewal prior to the end of said 30-day grace period, along with the payment of the applicable fees, the license will not expire.

(2) Any licensee completing an application for license renewal in accordance with Paragraph (1) above but failing to meet the educational requirements imposed by this chapter within the times set forth in this chapter will not be renewed until the licensee shall have complied with the educational requirements of this chapter.

(3) If the licensee has complied with the educational requirements of Rule 482-1-110-.05 and has otherwise complied with this chapter, the license will be renewed.

(4) The Commissioner may, after notice and hearing as provided in Code of Ala. 1975, § 27-7-20, which hearing may be waived by the licensee, suspend or revoke the license of any producer or service representative who does any of the following:

(a) Submits to the Commissioner a false or fraudulent application for renewal of license, as a violation of Code of Ala. 1975, § 27-7-19(a)(2).

(b) Submits to the Commissioner a false or fraudulent certificate of compliance with the educational requirements of this chapter, as a violation of Code of Ala. 1975, § 27-8A-2.

(c) Otherwise files a false statement required by Chapter 8A of the Insurance Code in accordance with this chapter, with knowledge of the falsity of the statement, as a violation of Code of Ala. 1975, § 27-8A-8.

(5) Any action taken pursuant to Paragraph (6) subjects the licensee to the suspension or revocation of all licenses issued to the licensee for any kind or kinds of insurance, and no further license shall be issued to the licensee for any kind or kinds of insurance until the licensee shall have complied with the educational requirements of this chapter.

(6) In lieu of suspension of license pursuant to paragraph (4), and in the sole discretion of the Commissioner, for violations of subparagraph (b) of paragraph (4), the licensee may be subject to a civil fine in an amount not to exceed ten thousand dollars ($10,000).

Ala. Admin. Code r. 482-1-110-.07

New Rule: September 15, 1994; effective October 1, 1994. Amended: September 23, 1996; effective October 3, 1996. Amended: December 16, 1998; effective January 1, 1999. Amended: August 19, 2002; effective August 29, 2002. Filed with LRS August 19, 2002. Rule is not subject to the Alabama Administrative Procedure Act. Amended: Filed November 29, 2006; effective December 9, 2006. Filed with LRS November 29, 2006. Rule is not subject to the Alabama Administrative Procedure Act. Amended: Filed October 18, 2012; effective October 28, 2012. Filed with LRS October 18, 2012. Rule is not subject to the Alabama Administrative Procedure Act.

Amended by Alabama Administrative Monthly Volume XXXVI, Issue No. 09, June 29, 2018, eff. 1/1/2019.

Author: Commissioner of Insurance

Statutory Authority:Code of Ala. 1975, §§ 27-2-17, 27-7-43, 27-8A-1, et seq.