Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-117 - CREDIT LIFE AND DISABILITY INSURANCE
Section 482-1-117-.02 - Purpose

Universal Citation: AL Admin Code R 482-1-117-.02
Current through Register Vol. 42, No. 5, February 29, 2024

The purpose of this chapter is to: establish guidelines for insurers and creditors that offer credit life insurance and credit disability insurance, as defined in this chapter, provided by the creditors to debtors; and interpret and implement certain Alabama statutes, including, but not limited to, the Alabama Consumer Credit Act and the Alabama Small Loan Act, with respect to credit life and disability insurance provided under those statutes. It is acknowledged that other types of credit insurance may be issued or sold, for example, credit property insurance; however, those other types of credit insurance are not covered by this chapter. Nothing in this chapter is intended to prohibit or discourage reasonable competition.

Author: Reyn Norman, Associate Counsel

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

Disclaimer: These regulations may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.