Alabama Administrative Code Chapter 482-1-160 — Adjustment of Service Contract Provider and Premium Finance Company Fees

482 Alabama Department of Insurance

Ala. Admin. Code r. 482-1-160-.01 Purpose And Authority

(1) The purpose of this chapter is to set forth rules the Commissioner deems necessary to carry out the provisions of Code of Ala. 1975, §41-1-11, permitting the increase of certain fees by the percentage increase in the Consumer Price Index for all urban consumers as published by the U.S. Department of Labor, Bureau of Labor Statistics. Initially, the increase is to be calculated from the end of December in the tenth year preceding the year in which the fee increase is to be effective, or from the end of December in the last year the fee was increased, whichever period is shorter, to the end of the month preceding the month in which the fee increase is to be effective, rounded down to the nearest dollar. Thereafter, every five years this process may be repeated for the previous five years forward to the date of the requested change. The change may not exceed an increase of two percent per year.

(2) This chapter is adopted pursuant to Code of Ala. 1975, §§27-2-17 and 41-1-11.

(3) This chapter shall become effective April 1, 2016, upon its approval by the Commissioner of Insurance and upon its having been on file with the Legislative Reference Service for 35 days, subject to review by the Joint Committee on Administrative Regulation Review.

History

• Author: Commissioner of Insurance
• Authority: Code of Ala. 1975, §27-2-17, Ala. Act No. 2015-441.
• New Rule: December 8, 2015; effective April 1, 2016. Filed with LRS December 8, 2015. Rule is not subject to the Alabama Administrative Procedure Act. Amended: June 10, 2021; effective June 20, 2021. Filed with LRS June 10, 2021. Rule is not subject to the Alabama Administrative Procedure Act.

Ala. Admin. Code r. 482-1-160-.02 Service Contract Provider Fee

The Commissioner of Insurance hereby sets the following fee as is declared necessary for the administration and enforcement of Chapter 32 of Title 8, Code of Ala. 1975, relating to the regulation of service contracts sold to consumers in this state, adjusted according to Code of Ala. 1975, §41-1-11:

(a) Service Contract Provider registration fee, initial and annual renewal............................... $264.00

History

• Author: Commissioner of Insurance
• Authority: Code of Ala. 1975, §§27-2-17, 8-32-3, 8-32-11, Ala. Act No. 2015-441.
• New Rule: December 8, 2015; effective April 1, 2016. Filed with LRS December 8, 2015. Rule is not subject to the Alabama Administrative Procedure Act. Amended: June 10, 2021; effective June 20, 2021. Filed with LRS June 10, 2021. Rule is not subject to the Alabama Administrative Procedure Act.

Ala. Admin. Code r. 482-1-160-.03 Premium Finance Company Fees

The Commissioner of Insurance hereby sets the following fees as are declared necessary for the administration and enforcement of Chapter 40 of Title 27, Code of Ala. 1975, relating to the regulation of premium finance companies, adjusted according to Code of Ala. 1975, §41-1-11:

(a) Annual license fee, generally.................... $264.00

(b) Annual license fee, for an insurance agency which finances its own business of less than $150,000.00 in premiums annually .................................... $66.00

History

• Author: Commissioner of Insurance
• Authority: Code of Ala. 1975, §§27-2-17, 27-40-3, 27-40-7, Ala. Act No. 2015-441.
• New Rule: December 8, 2015; effective April 1, 2016. Filed with LRS December 8, 2015. Rule is not subject to the Alabama Administrative Procedure Act. Amended: June 10, 2021; effective June 20, 2021. Filed with LRS June 10, 2021. Rule is not subject to the Alabama Administrative Procedure Act.

Ala. Admin. Code r. 482-1-160-.04 Insurance Fraud Unit Assessment

The Commissioner of Insurance hereby sets the following assessment fee as is declared necessary for the administration and enforcement of Article 3 of Chapter 12A of Title 27, Code of Ala. 1975, relating to the Insurance Fraud Unit, adjusted according to Code of Ala. 1975, §41-1-11:

(a) Annual Fraud Unit assessment fee, as set forth in Code of Ala. 1975, §27-12A-41........................ $240.00

History

• Author: Commissioner of Insurance
• Authority: Code of Ala. 1975, §§27-2-17, 27-12A-41, 41-1-11.
• New Rule: October 7, 2022; effective January 1, 2023. Published October 31, 2022. Rule is not subject to the Alabama Administrative Procedure Act.