§ 27-7-34 — Placing of Insurance by Producer Not Appointed

Alabama § 27-7-34

• Jurisdiction: Alabama
• Title 27: Insurance
• Ch. 7: Property, Casualty and Surety Insurance Representatives

Text

(a) On an occasional basis, a producer may place with an insurer for which he or she is not appointed only a kind of insurance or classification thereof for which the producer is licensed by placing the insurance through a duly appointed producer of the insurer.
(b) In addition to any other penalties provided for, the licenses of any licensee violating or participating in the violation of this section may be suspended or revoked in the discretion of the commissioner; and, if so suspended or revoked, the licenses shall not be restored for a period of at least one year.
(c) The commissioner may, by rules or regulations, establish basic responsibilities and limitations for producers operating under this section.

Legislative History

(Acts 1957, No. 530, p. 726, §15; Acts 1971, No. 407, p. 707, §146; Acts 1988, No. 88-123, p. 159, §1; Act 2001-702, p. 1509, §9.)