Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-154 - PAYMENT FAILURE
Section 482-1-154-.04 - Assessments And Fines - Failure Of Payment

(1) Upon being informed of a payment failure concerning an assessment or fine involving a licensee, the Department will issue to the licensee written notice of intent to suspend the licensee's license if the balance of the assessment or fine then due, together with any additional charges occasioned by the payment failure, are not paid in full by the date specified in the notice. The notice may be issued by mail, facsimile, or electronically at the election of the Department.

(2) If the licensee does not comply with the notice, the license shall be suspended without further notice and, as applicable, information concerning the suspension will be reported to one or more centralized data registries maintained under the authority of the National Association of Insurance Commissioners. Reinstatement of a license after suspension will only occur on such terms and conditions as the Department may prescribe. The term of a license as originally issued is not extended by the period of a suspension.

(3) If the payment failure concerning an assessment or fine relates to an unlicensed individual or entity, the Department, at its sole election, may either deem the disposition immediately void or issue to the unlicensed party written notice of intent to void the disposition if the balance of the assessment or fine then due, together with any additional charges occasioned by the payment failure, are not paid in full by the date specified in the notice. The notice may be issued by mail, facsimile, or electronically at the election of the Department.

(4) The provisions of this rule apply to all dispositions after the effective date of this chapter whether or not the disposition documentation refers to this rule.