Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-111 - LICENSING OF LIMITED LINE CREDIT INSURANCE PRODUCERS
Section 482-1-111-.01 - Purpose

Universal Citation: AL Admin Code R 482-1-111-.01
Current through Register Vol. 42, No. 5, February 29, 2024

The purpose of this chapter is to set forth the rules and requirements which the Commissioner deems necessary to apply to producers marketing credit insurance coverage, as described in the Alabama Consumer Credit Act, Title 5, Chapter 19, Code of Ala. 1975, (commonly referred to as the "Mini-Code"); the Alabama Small Loan Act, Title 5, Chapter 18, Code of Ala. 1975; the Alabama Insurance Code, Title 27, Code of Ala. 1975; as well as rules and regulations promulgated pursuant to these statutes. This chapter is to clarify future licensing procedures concerning credit insurance and in no way reflects on previous practices. The information required by this chapter is hereby declared to be necessary and appropriate and in the public interest and for the protection of policyholders in this state. Additionally this chapter is to promote the public welfare by regulating credit insurance in this state.

Author: Reyn Norman, Associate Counsel

Statutory Authority: Code of Ala. 1975, §§ 27-2-17, 27-7-43.

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