Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-009 - INDUSTRIAL FIRE INSURANCE POLICIES
Section 482-1-009-.03 - Method Of Payment
Universal Citation: AL Admin Code R 482-1-009-.03
Current through Register Vol. 42, No. 5, February 29, 2024
No such policy shall be issued except upon a weekly or monthly premium payment basis. No discount for premiums paid in advance shall exceed five percent (5%) for premiums paid for six (6) months in advance, or ten percent (10%) for premiums paid for twelve (12) months in advance. In no event shall premiums be collected for more than twelve months in advance.
Author: John Davis, Associate Counsel
Statutory Authority: Code of Ala. 1975, §§ 27-2-17, 27-22-2.
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