Unless the context otherwise requires, terms found in this chapter are used as defined in Code of Ala. 1975, §27-25-3. Additionally, the following terms shall be defined for purposes of this chapter as follows:

1. (a) BUSINESS ENTITY. A domestic entity properly formed and existing under Code of Ala. 1975, Tit. 10A.
2. (b) INDIVIDUAL. A natural person.
3. (c) LICENSEE. A title insurance agent licensed in accordance with this chapter.
4. (d) NAIC. The National Association of Insurance Commissioners or its affiliates or subsidiaries, and any successor thereof.
5. (e) NIPR. The National Insurance Producer Registry.
6. (f) PERSON. An individual or business entity.
7. (g) PRINCIPAL PLACE OF BUSINESS. The place from which a business entity’s officers or other principals direct, control, and coordinate the entity’s business activities.

Author: Commissioner of Insurance

Statutory Authority: Code of Ala. 1975, §§27-5-4, et seq., 27-25-8.

History: New Rule: October 18, 2012; effective January 1, 2013. Filed with LRS October 18, 2012. Rule is not subject to the Alabama Administrative Procedure Act. Amended: Published July 31, 2023; effective September 14, 2023; operative January 1, 2024.