Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-093 - CREDIT PROPERTY AND INVOLUNTARY UNEMPLOYMENT INSURANCE
Section 482-1-093-.09 - Insurance Sold By A Dealer
Universal Citation: AL Admin Code R 482-1-093-.09
Current through Register Vol. 42, No. 11, August 30, 2024
(1) No insurer may write coverage in which the amount of coverage exceeds the replacement cost of the goods insured.
(2) No insurer may pay a dealer or by contract grant a dealer's interest in the affiliated property insurance which exceeds the original indebtedness under the contract.
(3) No insurer may issue a contract of insurance through a dealer which covers any goods other than those sold by that dealer under the terms of the contract secured by those goods.
Author: Vincent R. Ledlow, Associate Counsel
Statutory Authority: Code of Ala. 1975, § 27-2-17.
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