SB25 Alabama 2021 Session

Under existing law, under the Vehicle Protection Product Act, the Commissioner of Insurance collects certain fees for registering persons operating in this state as a warrantor of vehicle protection products and is authorized to conduct examinations of warrantors, administrators, and other persons to enforce the act

This bill would specify that the fees collected by the Commissioner of Insurance for registering persons operating in this state as a warrantor of a vehicle protection product would be deposited in the Insurance Department Fund. This bill would also specify that any person examined by the Commissioner of Insurance relating to the Vehicle Protection Product Act would be liable for the expenses of examination as provided in Section 27-2-25, Code of Alabama 1975

Relating to the Commissioner of Insurance; to add Section 8-33-14 to the Code of Alabama 1975, to specify that any person being examined by the commissioner in the enforcement of Chapter 33 of Title 8, Code of Alabama 1975, the Vehicle Protection Product Act, would be liable for the expenses of the examination; and to specify that all fees collected by the commissioner in the enforcement of the Vehicle Protection Product Act would be deposited in the Insurance Department Fund.