Title 27 — Title 27

An insurance producer doing business under any name other than the producer’s legal name is required to notify the commissioner prior to using the assumed name. History: (Act 2001-702, p. 1509, §6.)

Repealed by Act 2001-702, p. 1509, §16, effective January 1, 2002. History: (Acts 1971, No. 407, p. 707, §140; Acts 1988, No. 88-123, p. 159, §1.)

(a) Each insurer appointing a producer in this state shall file with the commissioner, in a format approved by the commissioner, a notice of appointment within 15 days from the date the agency contract is executed or the first insurance application is submitted, whichever occurs …

(a) Within 15 days after making the notification required by subsection (e) of Section 27-7-30, the insurer shall mail a copy of the notification to the producer at his or her last known address. If the producer is terminated for cause for any of the reasons listed in Section 27-…

(a) In the absence of actual malice, an insurer, the authorized representative of the insurer, a producer, the commissioner, or an organization of which the commissioner is a member and that compiles the information and makes it available to other insurance commissioners or regul…

(a) Any documents, materials, or other information in the control or possession of the department that is furnished by an insurer, producer, or an employee or agent thereof acting on behalf of the insurer or producer, or obtained by the commissioner in an investigation pursuant t…

An insurer, the authorized representative of the insurer, or producer that fails to report as required under the provisions of Section 27-7-30, or that is found to have reported with actual malice by a court of competent jurisdiction may, after notice and hearing, have its licens…

Repealed by Act 2001-702, p. 1509, §16, effective January 1, 2002. History: (Acts 1957, No. 530, p. 726, §3; Acts 1971, No. 407, p. 707, §145; Acts 1988, No. 88-123, p. 159, §1.)

Repealed by Act 2001-702, p. 1509, §16, effective January 1, 2002. History: (Acts 1957, No. 530, p. 726, §13; Acts 1971, No. 407, p. 707, §143.)

(a) A producer shall keep for a period of not less than three years, or two years for business produced under limited lines credit insurance authority, at his or her place of business complete records pertaining to transactions under the producer’s license. (b) Upon the commissio…

(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 t…

(a) No licensee shall divide with others or share in any commissions payable on account of the exercise of a license under this title except a producer may divide or share in the commissions with other producers licensed as to the same kinds of insurance or classifications thereo…

(a) An insurance company or insurance producer shall not pay a commission, service fee, brokerage, or other valuable consideration to a person for selling, soliciting, or negotiating insurance in this state if that person is required to be licensed under this chapter and is not s…

(a) All premiums, return premiums, or other funds belonging to others received by a producer in transactions under the producer’s license shall be trust funds so received by the licensee in a fiduciary capacity, and the licensee in the applicable regular course of business shall …

(a) The department shall institute a proceeding against a licensee for the imposition of licensee penalties by filing and serving a complaint as to the licensee, giving notice thereof to the licensee and all insurers the licensee is licensed or appointed to represent. (b)(1) Any …

(a) Any communications, complaint, evidence, testimony, document, deposition, affidavit, statement, or other proof filed, given, or proffered at the hearing provided for in Section 27-7-37 shall be absolutely privileged to the same extent as in a court of law and shall never form…

(a) A producer shall report to the commissioner any administrative action taken against the producer in another jurisdiction or by another governmental agency in this state within 30 days of the final disposition of the matter. This report shall include a copy of the order, conse…

(a) No person shall in this state sell, solicit, or negotiate insurance for any class or classes of insurance unless the person is then licensed for that line of authority in accordance with this chapter. Any insurer accepting business directly from a person not licensed for that…

(a) No insurer or producer shall pay, directly or indirectly, any commission or other valuable consideration to any person for services as a producer or service representative within this state unless the person holds a currently valid license as a producer or service representat…

(a) Nothing in this chapter shall be construed to require an insurer to obtain an insurance producer license. In this section, the term “insurer” does not include an insurer’s officers, directors, employees, subsidiaries, or affiliates. (b) A license as an insurance producer shal…

(a) A resident individual applying for an insurance producer license shall pass a written examination unless exempt pursuant to Section 27-7-5 or 27-7-29.1. The examination shall test the knowledge of the individual concerning the lines of authority for which application is made,…

(a) In order to make a determination of insurance producer license eligibility, the commissioner is authorized to require fingerprints of initial resident applicants for an insurance producer license and to submit the fingerprints and the fee required to perform the criminal hist…

All fines collected pursuant to this chapter shall be deposited to the credit of the State General Fund. History: (Act 2001-702, p. 1509, §12.)

(a) Every agent, broker, and solicitor license in force immediately prior to January 1, 2002, and existing under any law repealed or amended by Act 2001-702, is valid until its original expiration date, unless earlier terminated in accordance with applicable law. Upon the first r…

Any law of this state remaining in force after January 1, 2002, which refers to an insurance agent or broker required prior to January 1, 2002, to be licensed in accordance with Chapter 7 or Chapter 8 of this title shall be deemed a reference to an insurance producer required to …

(a) The commissioner may adopt reasonable rules and regulations for the implementation and administration of Act 2001-702. (b) Prior to the adoption, amendment, or repeal of any regulation to implement Act 2001-702, the commissioner shall give at least 35 days’ notice of the inte…

Information. Subject to the requirements of subsection (b) of Section 27-7-43, the commissioner may make reasonable rules and regulations for any person engaged in providing insurance necessary to implement and enforce the privacy provisions of 15 U.S.C. Sections 6801, et seq., b…

(a) An individual applying for a resident insurance producer license shall make application to the commissioner on the Uniform Application declaring under penalty of refusal, suspension, or revocation of the license that the statements made in the application are true, correct, a…

(a) As used in this section, the following terms shall have the following meanings: (1) RENTAL AGREEMENT. Any written agreement setting forth the terms and conditions governing the use of a vehicle provided by the rental company for rental or lease. (2) RENTAL COMPANY. Any person…

THIS SECTION WAS REPEALED IN THE 2022 REGULAR SESSION BY ACT 2022-152 EFFECTIVE JUNE 1, 2022. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. History: (Act 2013-213, p. 489, §1.)

(a) As used in this section, the following terms shall have the following meanings: (1) LIMITED LICENSEE. A person or entity authorized to sell certain coverages for personal property maintained in self-service storage facilities pursuant to this section. (2) OCCUPANT. A person, …

Repealed by Act 2001-702, p. 1509, §16, effective January 1, 2002. History: (Acts 1957, No. 530, p. 726, §4; Acts 1959, 2nd Ex. Sess., No. 73, p. 250; Acts 1971, No. 407, p. 707, §121; Acts 1988, No. 88-123, p. 159, §1.)

Repealed by Act 2001-702, p. 1509, §16, effective January 1, 2002. History: (Acts 1957, No. 530, p. 726, §5; Acts 1971, No. 407, p. 707, §122; Acts 1988, No. 88-123, p. 159, §1; Acts 1988, 1st Ex. Sess., No. 88-875, p. 410, §1; Acts 1990, No. 89-990, p. 35, §1.)

Repealed by Act 2001-702, p. 1509, §16, effective January 1, 2002. History: (Acts 1957, No. 530, p. 726, §5; Acts 1971, No. 407, p. 707, §123; Acts 1988, No. 88-123, p. 159, §1.)

Solicitor. Repealed by Act 2001-702, p. 1509, §16, effective January 1, 2002. History: (Acts 1957, No. 530, p. 726, §5; Acts 1971, No. 407, p. 707, §124; Acts 1988, No. 88-123, p. 159, §1.)

License; Filing Fee and Annual Fee for Broker’s License. Repealed by Act 2001-702, p. 1509, §16, effective January 1, 2002. History: (Acts 1957, No. 598, p. 848, §1; Acts 1971, No. 407, p. 707, §156; Acts 1981, No. 81-862, p. 1635, §1.)

Repealed by Act 2001-702, p. 1509, § 16, effective January 1, 2002. History: (Acts 1957, No. 598, p. 848, §6; Acts 1971, No. 407, p. 707, §164; Acts 1991, No. 91-483, p. 875, §1.)

Repealed by Act 2001-702, p. 1509, § 16, effective January 1, 2002. History: (Acts 1957, No. 598, p. 848, §6; Acts 1971, No. 407, p. 707, §165; Acts 1981, No. 81-862, p. 1635, §1.)

Repealed by Act 2001-702, p. 1509, § 16, effective January 1, 2002. History: (Acts 1957, No. 598, p. 848, §7; Acts 1971, No. 407, p. 707, §166; Acts 1981, No. 81-862, p. 1635, §1.)

Repealed by Act 2001-702, p. 1509, §16, effective January 1, 2002. History: (Acts 1971, No. 407, p. 707, §167; Acts 1981, No. 81-862, p. 1635, §1; Acts 1989, No. 89-258, p. 373, §4.)

Repealed by Act 2001-702, p. 1509, §16, effective January 1, 2002. History: (Acts 1957, No. 598, p. 848, §10; Acts 1971, No. 407, p. 707, §168; Acts 1981, No. 81-862, p. 1635, §1.)

Fees. Repealed by Act 2001-702, p. 1509, § 16, effective January 1, 2002. History: (Acts 1957, No. 598, p. 848, §11; Acts 1971, No. 407, p. 707, §172; Acts 1981, No. 81-862, p. 1635, §1.)

Grounds. Repealed by Act 2001-702, p. 1509, § 16, effective January 1, 2002. History: (Acts 1957, No. 598, p. 848, §14; Acts 1971, No. 407, p. 707, §178; Acts 1981, No. 81-862, p. 1635, §1.)

Proceedings; Appeal of Order. Repealed by Act 2001-702, p. 1509, § 16, effective January 1, 2002. History: (Acts 1957, No. 598, p. 848, §§14, 15; Acts 1971, No. 407, p. 707, §179; Acts 1981, No. 81-862, p. 1635, §1.)

Privileged Information. Repealed by Act 2001-702, p. 1509, § 16, effective January 1, 2002. History: (Acts 1957, No. 598, p. 848, §18; Acts 1971, No. 407, p. 707, §182.)

Repealed by Act 2001-702, p. 1509, § 16, effective January 1, 2002. History: (Acts 1971, No. 407, p. 707, §180)

Repealed by Act 2001-702, p. 1509, §16, effective January 1, 2002. History: (Acts 1971, No. 407, p. 707, §155; Acts 1981, No. 81-862, p. 1635, §1.)

Repealed by Act 2001-702, p. 1509, §16, effective January 1, 2002. History: (Acts 1957, No. 598, p. 848, §14; Acts 1971, No. 407, p. 707, §181; Acts 1981, No. 81-862, p. 1635, §1.)

Repealed by Act 2001-702, p. 1509, § 16, effective January 1, 2002. History: (Acts 1957, No. 598, p. 848, §12; Acts 1971, No. 407, p. 707, §169; Acts 1981, No. 81-862, p. 1635, §1.)

Repealed by Act 2001-702, p. 1509, § 16, effective January 1, 2002. History: (Acts 1957, No. 598, p. 848, §8; Acts 1971, No. 407, p. 707, §170; Acts 1981, No. 81-862, p. 1635, §1.)