Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-163 - VALUE -ADDED SERVICE OR PRODUCT
Section 482-1-163-.01 - Purpose, Scope, And Authority

Universal Citation: AL Admin Code R 482-1-163-.01

Current through Register Vol. 43, No. 02, November 27, 2024

(1) The purpose of this chapter is to set forth the view of the Alabama Commissioner of Insurance and the Department of Insurance about whether a Value-Added Service or Product, as defined in this chapter, constitutes an inducement for insurance or an annuity, a rebate, or any other impermissible consideration, as those terms are used in Code of Ala. 1975, §§ 27-12-12 and 27-12-14.

(2) This chapter is adopted pursuant to Code of Ala. 1975, §§ 27-2-17, 27-12-12, and 27-12-14.

Author: Commissioner of Insurance

Statutory Authority: Code of Ala. 1975, §§ 27-2-17, 27-12-12, 7-12-14.

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