Ala. Admin. Code r. 482-1-153-.01

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

Section 482-1-153-.01 - Purpose, Scope AAnd Authority

(1) The purposes of this regulation are as follows:

(a) To set forth rules and procedural requirements the Commissioner deems necessary to carry out the provisions of Chapter 22A, Code of Ala. 1975(2012), relating to the licensing of portable electronics insurance vendors as limited lines insurance producers.

(b) To set forth the procedures for the renewal of licenses of portable electronics insurance vendors as insurance producers.

(2)

(a) This regulation shall apply to individuals and business entities applying for a license as insurance producer for portable electronics insurance vendors.

(b) As to the renewal of licenses, this regulation shall apply to every individual or business entity portable electronics insurance vendor licensed in this state as an insurance producer.

(c) A vendor of portable electronics insurance licensed in accordance with this regulation shall be considered a limited lines insurance producer and shall, except as otherwise provided in this regulation and in Chapter 22A, Tit. 27, Code of Ala. 1975, be subject to all laws, rules and regulations applicable to limited lines insurance producers, including, but not limited to, Chapter 7, Code of Ala. 1975, providing general laws applicable to all insurance producers, Chapter 8A, Code of Ala. 1975, Tit. 27, providing the laws for the renewal of producer licenses, and Alabama Insurance Regulation Chapter 482-1-109, providing the procedures for renewal of producer appointments, Chapter 482-1-110, providing the procedures for renewal of producer licenses, and Chapter 482-1-147, providing other general procedures regarding the license and appointments of producers.

(3) This regulation is adopted pursuant to Code of

Ala. 1975, §§ 27-2-17 (1975), 27-22A-7 (2012).

Ala. Admin. Code r. 482-1-153-.01

New Rule: July 29, 2013; effective August 8, 2013. Filed with LRS July 29, 2013. Rule is not subject to the Alabama Administrative Procedure Act.

Authority: Commissioner of Insurance

Statutory Authority:Code of Ala. 1975, §§ 27-2-17, 27-22A-7.