Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-148 - TITLE INSURANCE AGENTS
Section 482-1-148-.01 - Purpose, Scope And Authority
Universal Citation: AL Admin Code R 482-1-148-.01
Current through Register Vol. 43, No. 02, November 27, 2024
(1) The purposes of this chapter are as follows:
(a) To set forth
rules and procedural requirements the Commissioner deems necessary to carry out
the provisions of Chapter 25 of Code of Ala. 1975,
Tit. 27, relating to the licensing of title insurance agents; the issuance of
title insurance agent appointments; and the various types of disciplinary
action concerning licenses and grants of authority.
(b) To set forth the procedures for the
renewal of licenses of title insurance agents, as is required by
Code of Ala. 1975, §
27-25-4.2.
(c) To implement the continuing education
requirements for title insurance agents set forth in Code of Ala.
1975, §
27-25-4.4.
(2)
(a)
This chapter shall apply to individuals and business entities applying for and
renewing a title insurance agent license and to all title insurance companies
appointing title insurance agents.
(b) Pursuant to Code of Ala.
1975, §
27-25-3, attorneys licensed by the
Alabama State Bar are exempt from the licensing requirements of this chapter.
If a licensed attorney chooses to do business through an entity law firm, that
entity law firm shall be likewise exempt from the licensing requirements of
this chapter. Should a licensed attorney choose to do title insurance business
through an entity separate and apart from a law firm, that entity will be
subject to the title agent licensing requirements of this chapter and at least
one individual must be licensed as an individual title insurance agent, even if
that person is a licensed attorney who would otherwise be exempt from
licensing. Likewise, should an individual who is not a licensed attorney seek
to do business as a title insurance agent through an entity law firm, then the
entity law firm would be subject to the licensing requirements of this
chapter.
(3) This chapter is adopted pursuant to Code of Ala. 1975, §§ 27-25-3, 27-25-4, 27-25-8.
Author: Commissioner of Insurance
Statutory Authority: Code of Ala. 1975, §§ 27-5-4, et seq., 27-25-8.
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