Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-072 - RECEIPT REQUIREMENTS
Section 482-1-072-.02 - Purpose
Universal Citation: AL Admin Code R 482-1-072-.02
Current through Register Vol. 43, No. 02, November 27, 2024
The purposes of this chapter are:
(1) To regulate the activities of insurers and producers, with respect to the collection of monies for certain types of insurance coverages;
(2) To assure that the prospective policyowner receives adequate proof of payment for insurance purchased;
(3) To reduce the opportunity for misrepresentation and/or incomplete disclosures; and
(4) To establish penalties for failure to comply with the requirements of this chapter.
Author: Commissioner of Insurance
Statutory Authority: Code of Ala. 1975, §§ 27-2-17; 27-2-7(4).
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