Ala. Admin. Code r. 482-1-058-.06

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

Section 482-1-058-.06 - Responsibilities Of Producing Agents

(1) Any producer offering business to another producer under the provisions of Section 27-7-34, Code of Ala. 1975, has the responsibility of knowing that the accepting agent is properly licensed and appointed as required under this statute.

(2) No producing agent shall hold himself or herself out as having authority to bind coverage on behalf of any insurer unless he or she is properly appointed as a producer for the insurer.

(3) Any producer accepting an application for insurance under the provisions of Section 27-7-34, Code of Ala. 1975, shall at that time furnish the applicant a written receipt listing coverages requested by the applicant and monies collected. The receipt must also clearly state that insurance will not be effective until accepted and bound by a duly appointed and licensed producer for the insurance company that is to provide coverage.

Ala. Admin. Code r. 482-1-058-.06

New Rule: February 17, 1975; effective April 1, 1975. Revised: April 27, 2007; effective May 7, 2007. Filed with LRS April 27, 2007. Rule is not subject to the Alabama Administrative Procedure Act.

Author: Commissioner of Insurance

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