Ala. Admin. Code r. 482-1-122-.03

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

Section 482-1-122-.03 - Applicability, Compliance, And Rule Of Construction

A. Applicability. This regulation applies to all insurers, producers, agents, brokers, service representatives, and other persons licensed or required to be licensed, or authorized or required to be authorized, or registered or required to be registered, or domiciled pursuant to the Alabama Insurance Code, other than pursuant to Chapter 32 of Title 8 (Service Contracts). This regulation also applies to unauthorized insurers who accept business placed through a licensed surplus line broker in this State, but only in regard to the surplus line placements placed pursuant to Chapter 10 of the Alabama Insurance Code (beginning with Section 27-10-1, Code of Ala. 1975).

B. Compliance. A licensee domiciled in this state that is in compliance with this regulation in a state that has not enacted laws or regulations that meet the requirements of Title V of GLBA may nonetheless be deemed to be in compliance with Title V of GLBA.

C. Rule of Construction. The examples in this regulation and the sample clauses in Appendix A of this regulation are not exclusive. Compliance with an example or use of a sample clause, to the extent applicable, constitutes compliance with this regulation.

Author: Reyn Norman, Associate Counsel

Statutory Authority: Code of Ala. 1975, § 27-2-17; §20, Act 2001-702; 15 U.S.C. §§ 6801 - 6827

History: New Rule: October 5, 2000; effective October 15, 2000. Amended: June 20, 2001; effective July 1, 2001. Amended: September 12, 2001; effective October 1, 2001. Filed with LRS September 14, 2001. Rule is not subject to the Alabama Administrative Procedure Act.

Ala. Admin. Code r. 482-1-122-.03