Ala. Admin. Code r. 482-3-003-.14

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

Section 482-3-003-.14 - Preneed Sales Agents

(1) Each employee or agent selling preneed contracts or who execute contracts on behalf of a certificate holder must be registered by that certificate holder as a preneed sales agent (PSA). To sell preneed contracts, every certificate holder must have at least one PSA registered. The fee for issuing or renewing a certificate of authority does not include payment for any PSA registrations.

(2) Application for registration shall be made on the form published on the Department's website. Each PSA registration requires payment of a $25 registration fee, which is to be paid with the initial registration and annually thereafter. Each PSA registration must be renewed annually. The fees for PSA initial registration and annual renewal are set forth in Rule 482-3-002-.02.

(3) A PSA registration is not active if the registrant is not affiliated with any certificate holder.

(4) An individual may be registered as a preneed sales agent on behalf of more than one certificate holder if the individual has received written consent of all certificate holders. The consent must be filed with the application for PSA registration.

(5) The certificate holder shall notify the Department within 30 days after a registered PSA's affiliation with a certificate holder has terminated.

Ala. Admin. Code r. 482-3-003-.14

Adopted by Alabama Administrative Monthly Volume XXXIII, Issue No. 02, November 26, 2014, eff. 1/1/2015.

Amended by Alabama Administrative Monthly Volume XXXVII, Issue No. 07, April 30, 2019, eff. 4/21/2019.

Author: Commissioner of Insurance

Statutory Authority:Code of Ala. 1975, §§ 27-2-17, 2 7-17A-1 to -57 (2014).