Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-154 - PAYMENT FAILURE
Section 482-1-154-.02 - Definitions

(a) ASSESSMENTS AND FINES. Monetary amounts due for payment to the Department and designated as an assessment, a fine, or a penalty in any order, consent order, settlement, warning letter agreement, or other form of unilateral or mutually agreed-to disposition between the Department and a licensee or an unlicensed individual or business entity.

(b) DEPARTMENT. The Department of Insurance and any of its divisions or units, including, without limitation, the Office of Commissioner and the Office of State Fire Marshal, and any third party which collects payments on behalf of the Department by agreement with the Department.

(c) LICENSE. Any form of individual or business entity license, permit, or registration issued by the Department, but does not include a certificate of authority issued to an insurance company.

(d) LICENSEE. An individual or business entity which holds a license.

(e) LICENSE FEES. The fees and, as applicable, any associated processing fees charged for issuance of a license by the Department.

(f) PAYMENT. The remitting of funds by check, other written negotiable instrument, or any form of electronic funds transfer, including, without limitation, credit cards and charge cards.

(g) PAYMENT FAILURE. Occurs if a payment tendered to the Department fails for any reason not within the control of the Department, including without limitation, dishonor or rejection.