Ala. Admin. Code r. 482-1-154-.03

Current through Register Vol. 42, No. 10, July 31, 2024

Section 482-1-154-.03 - License Fee - Failure Of Payment

(1) Upon being informed of a payment failure concerning a license fee, the Department will issue to the licensee written notice of intent to suspend the license if the license fee, together with any additional charges occasioned by the payment failure, are not paid in full by the date specified in the notice. If applicable, such notice may require that payment be made to a third party and evidence of payment furnished by the third party to the Department. 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.

New Rule: July 29, 2013; effective August 8, 2013. Filed with LRS July 29, 2013. Rule is not subject to the Alabama Administrative Procedure Act.

Authority: Commissioner of Insurance

Statutory Authority:Code of Ala. 1975, §§ 27-2-17, 27-4-2.