50-State Financial Services Licensing Compliance Guide
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Alabama Finance Licensing

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Licenses are typically required for individuals and businesses that provide finance industry services in the United States. This guide contains information about professional finance licensing in Alabama.

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Company Licenses

Alabama Financial Services Company Licenses

Alabama Adjuster License - Non-Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$230

Registration Renewal

Filing Method:

Online

Agency Fee:

$200

Due:

By December 31 of odd-numbered years.

Alabama Adjuster License - Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$230

Registration Renewal

Filing Method:

Online

Agency Fee:

$200

Due:

By December 31 of odd-numbered years.

Alabama Collection Agency License

Not required



Debt Collection Agency licensure is not required on the State level in Alabama.

Alabama does not currently issue licenses for collection agencies.

Alabama Consumer Credit Act License - Non-Residential Lender

Agency:Alabama State Banking Department
Law:

AL Code § 5-19-22

Foreign Qualification is Prerequisite:Yes
Financial Requirements:

Applicants must have at least $25,000 in unencumbered cash assets for each location.

Registered Agent (Special Agency) Required?No

Automatic Exemption

Exemption Eligible Organizations:
  • Banks chartered by this state or any other state, banks chartered by the United States, trust companies, savings or building and loan associations, savings banks and other thrift institutions, bank holding companies, thrift holding companies, credit unions, and federally constituted agencies shall be exempt from licensing.
  • A seller, with respect to consumer credit sale transactions and the financing of charges permitted by this chapter, is not required to be licensed under this chapter.
Law:

AL Code § 5-19-22

Initial Registration

Form:

ACCA "Mini-Code" Original Application

Instructions:

ACCA "Mini-Code" Original Application Instructions

Agency Fee:

$100 investigation fee + $500 license fee

Notarize:Required
Required Attachments:
  • A summary of the education and experience of each owner, member, director and officer.
  • A certified copy of the Applicant's Articles of Incorporation and By-Laws, partnership agreement, or Articles of Organization. If Applicant is an out-of state company, also attach a Certificate of Authority issued by the Alabama Secretary of State.
  • Applicant's most recent financial statement prepared in accordance with standard accounting practices under the supervision of a CPA showing at least $25,000 in unencumbered cash assets for each location.
  • Three letters of recommendation on each owner, member, director and officer from business people who have personal knowledge of the Applicant's business experience.
  • A true and complete (front and back) copy of the Applicant's TILA disclosure.
  • A properly executed ALEA "Application To Review Alabama Criminal History Record Information". Include a front and back copy of your valid photo identification card and a completed FBI-Application Fingerprint card for each owner, member, director, and officer, as applicable.
  • A properly executed State Banking Department "Credit Report Release Form" for each owner, member, director, and officer, as applicable.
  • A certified check for $100 for the investigation fee and a separate certified check for $500 for the annual license fee, made payable to the STATE BANKING DEPARTMENT.
  • A statement of any business which Applicant proposes to conduct from the same location. If no other business will be conducted, a statement stating no other business will be conducted.

Registration Renewal

Filing Method:

Online

Agency Fee:

$500

Due:

Annually by January 1.

Alabama Insurance Agency License

Agency:Alabama Department of Insurance

Initial Registration

This section applies to insurance firms that are applying for a license in Alabama for the first time.

Agency:Alabama Department of Insurance
Form:

http://www.aldoi.gov/Licensing/Requirements.aspx

Agency Fee:

Varies by insurance type. Baseline of $100

Registration Renewal

This section applies to insurance firms that are already licensed in Alabama and need to renew their license.

Agency:Alabama Department of Insurance
Form:

http://www.aldoi.gov/Licensing/Requirements.aspx

Agency Fee:

Varies by insurance type. Baseline of $100

Due:

Annually or Biennially based on license type

Alabama Insurance Producer License - Non-Resident

Agency:Alabama Department of Insurance
Foreign Qualification is Prerequisite:Yes

Initial Registration

Filing Method:

Online

Agency Fee:

$130

Registration Renewal

Filing Method:

Online

Agency Fee:

$150

Due:

By December 31 of even-numbered years.

Alabama Insurance Producer License - Non-Resident (No Home State)

Agency:Alabama Department of Insurance
Foreign Qualification is Prerequisite:Yes

Initial Registration

Filing Method:

Online

Agency Fee:

$130

Registration Renewal

Filing Method:

Online

Agency Fee:

$100

Due:

By December 31 of even-numbered years.

Alabama Insurance Producer License - Resident

Agency:Alabama Department of Insurance
Foreign Qualification is Prerequisite:No

Initial Registration

Filing Method:

Online

Agency Fee:

$130

Registration Renewal

Filing Method:

Online

Agency Fee:

$100

Due:

By December 31 of even-numbered years.

Alabama Portable Electronics Insurance Large License - Non-Resident

Agency:Alabama Department of Insurance
Foreign Qualification is Prerequisite:Yes

Initial Registration

Filing Method:

Online

Agency Fee:

$1,000

Registration Renewal

Filing Method:

Online

Agency Fee:

$500

Due:

By December 31 of even-numbered years.

Alabama Portable Electronics Insurance Large License - Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$1,000

Registration Renewal

Filing Method:

Online

Agency Fee:

$500

Due:

By December 31 of even-numbered years.

Alabama Portable Electronics Insurance Small License - Non-Resident

Agency:Alabama Department of Insurance
Foreign Qualification is Prerequisite:Yes

Initial Registration

Filing Method:

Online

Agency Fee:

$100

Registration Renewal

Filing Method:

Online

Agency Fee:

$100

Due:

By December 31 of even-numbered years.

Alabama Portable Electronics Insurance Small License - Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$100

Registration Renewal

Filing Method:

Online

Agency Fee:

$100

Due:

By December 31 of even-numbered years.

Alabama Qualified Utilization Review Entity Certificate

Type of Review:

Workers' Compensation Utilization Review

Agency:Alabama Department of Labor
Law:

AAC 480-5-5-.06

Initial Registration

Form:

Application for Certification

Agency Fee:

$0

Registration Renewal

Form:

Application for Certification (Renewal)

Agency Fee:

$0

Due:

Biennially by the date of issuance.

Alabama Surplus Line Broker License - Non-Resident

Agency:Alabama Department of Insurance
Foreign Qualification is Prerequisite:Yes

Initial Registration

Filing Method:

Online

Agency Fee:

$530

Registration Renewal

Filing Method:

Online

Agency Fee:

$500

Due:

Annually by December 31.

Alabama Surplus Line Broker License - Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$530

Registration Renewal

Filing Method:

Online

Agency Fee:

$500

Due:

Annually by December 31.

Alabama Third Party Administrator License

Not required



Third Party Administrator Business licensure is not required on the State level in Alabama.

The Alabama Department of Insurance does not license Third Party Administrator businesses. If the TPA is a corporation, it should contact the Corporate Division of the Secretary of State’s Office for instructions on qualification as a corporation.

More information: Alabama Department of Insurance

Alabama Utilization Review Agent Certification

Type of Review:

Medical Utilization Review

Agency:Alabama Department of Public Health
Law:

AL Code § 27-3A-1 et seq.

Initial Registration

Form:

Application for Certification as a UR Review Agent, Attachment A, and Policy and Procedure Checklist (if not accredited through URAC).

Agency Fee:

$0 for URAC accredited entities and $1,000 for non-accredited entities.

Notarize:Required
Required Attachments:

URAC Certified Entities:

  • Attach copy of current certificate of accreditation specific to Health Utilization Management Standards with the application
  • Complete Attachment A (Additional UR sites). Complete this item even if there are no additional sites

 

Non-Accredited Entities:

  • A copy of your policies and procedure which support compliance with the §Code of Alabama 27-3A-5
  • A copy of the complaint and appeals procedures for utilization review determinations
  • Attachment A ("Additional UR Sites"). Complete this item even if there are no additional sites. Select "none" if there are no additional sites and submit attachment with application

Registration Renewal

Form:

Renewal Application for URAC Accredited Agents or Renewal Application for Non-URAC Accredited Agents

Agency Fee:

$0 for URAC accredited entities and $1,000 for non-accredited entities.

Due:

Annually by June 30.

Notarize:Required
Notes:

Separate renewal forms should be filed for each additional physical site other than the location given.

Before you Apply:

URAC Certified Entities:

  • Copy of current URAC accreditation certification or a letter from URAC if accreditation is in process of renewal
  • Attachment A (Additional UR Sites)

 

Non-Accredited Entities:

  • Policy & Procedure Checklist Form
  • A copy of the complaint and appeal process
  • Policy Attestation Statement
  • Attachment A with contact person information for each UR Site

Individual Licenses

Alabama Individual Financial Services Licenses

Alabama Adjuster License - Non-Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$110

Registration Renewal

Filing Method:

Online

Agency Fee:

$80

Due:

Biennially by the end of the licensee's birth month.

Alabama Adjuster License - Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$110

Registration Renewal

Filing Method:

Online

Agency Fee:

$140

Due:

Biennially by the end of the licensee's birth month.

Alabama Apprentice Adjuster License - Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$110

Registration Renewal

Filing Method:

Online

Agency Fee:

$110

Alabama Insurance Agent License

Agency:Alabama Department of Insurance

Initial Registration

This section applies to insurance agents that are applying for a license in Alabama for the first time.

Agency Fee:

From $60 to $1,000 depending on license type

Registration Renewal

Form:

Online Application

Filing Method:

Online

Agency Fee:

Varies based on residency and license type

Due:

Biennially based on year of initial registration

Alabama Insurance Producer License - Non-Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$80

Registration Renewal

Filing Method:

Online

Agency Fee:

$140

Due:

Biennially by the end of the licensee's birth month.

Alabama Insurance Producer License - Non-Resident (No Home State)

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$80

Registration Renewal

Filing Method:

Online

Agency Fee:

$140

Due:

Biennially by the end of the licensee's birth month.

Alabama Insurance Producer License - Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$80

Registration Renewal

Filing Method:

Online

Agency Fee:

$140

Due:

Biennially by the end of the licensee's birth month.

Alabama Portable Electronics Large License - Non-Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$1,000

Registration Renewal

Filing Method:

Online

Agency Fee:

$500

Alabama Portable Electronics Large License - Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$1,000

Registration Renewal

Filing Method:

Online

Agency Fee:

$500

Alabama PreNeed Sales Agent License - Non-Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$0

Registration Renewal

Filing Method:

Online

Agency Fee:

$30 per appointment

Alabama Preneed Sales Agent License - Non-Resident (No Home State)

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$0

Registration Renewal

Filing Method:

Online

Agency Fee:

$30 per appointment

Alabama PreNeed Sales Agent License - Resident

Agency:Alabama Department of Insurance
Exam Required?No

Initial Registration

Filing Method:

Online

Agency Fee:

$0

Registration Renewal

Filing Method:

Online

Agency Fee:

$30 per appointment

Alabama Resident Producer License

Agency:Alabama Department of Insurance

Initial Registration

Instructions:
  1. Before an applicant can sit for the Alabama Resident Producer Exam, they must complete a pre-licensing course from an approved provider for all lines of insurance for which they are seeking a license.
  2. Upon completing the pre-licensing course, the applicant must register online for the Alabama state exam. These exams are only offered at locations in Alabama.
  3. Once the applicant receives a passing score, they must provide fingerprints through Gemalto (the state's approved vendor). Concurrently with fingerprinting, the applicant must submit proof of citizenship.
  4. Upon completion of all of the above, the applicant may apply through NIPR.
Filing Method:

Apply online through NIPR.

Agency Fee:

$80

Registration Renewal

Filing Method:

Online

Agency Fee:

$80

Due:

Biennially. Renewal year is determined by licnesee's birth year.

Alabama Service Representative License - Non-Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$0

Registration Renewal

Filing Method:

Online

Agency Fee:

$140

Due:

Biennially by the end of the licensee's birth month.

Alabama Service Representative License - Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$0

Registration Renewal

Filing Method:

Online

Agency Fee:

$140

Due:

Biennially by the end of the licensee's birth month.

Alabama Surplus Lines Broker License - Non-Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$230

Registration Renewal

Filing Method:

Online

Agency Fee:

$200

Due:

Annually by December 31.

Alabama Temporary Producer License - Resident

Agency:Alabama Department of Insurance

Initial Registration

Filing Method:

Online

Agency Fee:

$0

Renewal Not Required

Not required



A Temporary Producer license is a once in a lifetime license per line of authority and is valid for a maximum of 6 months from the date the license is issued.

Alabama Third Party Administrator License

Not required



Third Party Administrator Individual licensure is not required on the State level in Alabama.

The Alabama Department of Insurance does not license individuals acting as Third Party Administrators.

More information: Alabama Department of Insurance

Alabama Title Insurance Agent License - Resident

Agency:Alabama Department of Insurance
Exam Required?Yes

Initial Registration

Filing Method:

Online

Agency Fee:

$60

Registration Renewal

Filing Method:

Online

Agency Fee:

$80

Due:

Biennially by the end of the licensee's birth month.

Explore licensing in other states:

Adjuster - A person or firm that is paid to adjust, investigate, and negotiate claim settlements. There are 3 categories of adjusters: company, independent, and public. Company adjusters work for insurance companies and investigate claims on behalf of the company. Independent adjusters investigate claims on a contractual basis for insurance companies. Public adjusters investigate claims on behalf of claimants, usually to determine the amount of money that can be claimed.

Agent in Charge - A licensed individual responsible for the supervision of all individuals within an insurance agency. The agent in charge must be licensed in the same lines as the agency.

Insurance Agent - Insurance agents act as intermediaries between the insurance company and policyholders. Agents can be either captive or independent. Captive agents represent a single insurance company, while independent agents represent multiple insurers.

Insurance Broker - Individuals who sell insurance policies while representing the interests of the buyer. Brokers are typically independent intermediaries without an insurance company affiliation.

Insurance Producer - May be used to refer to either individual insurance agents and brokers or insurance agencies and brokerages.

Managing General Agent - An agent or broker that is involved in underwriting and has other areas of authority normally handled by insurers. MGAs are typically involved in unusual lines of coverage or in geographically prohibitive areas.

Surplus Lines Insurer - An insurance carrier that takes on risks that a licensed carrier is unwilling to insure. Surplus lines insurers do not have access to state guaranty funds and are less tightly regulated by state governing bodies.

Third Party Administrator - An organization that manages group insurance policies and works with the employer and insurance carrier to process claims, handle loss control, and provide risk management and consulting services.

Title Agent - Title agents sell insurance that protects real estate owners against loss of ownership of a property due to a legal claim.

Viatical Settlement Provider - A company that purchases life insurance policies at a discount from individuals seeking immediately available funds.

Independent Insurance Agents and Brokers of America (Big “I”)
Advocacy group of independent insurance brokers and agents.

National Association of Insurance and Financial Advisors (NAIFA)
Professional association that advocates for favorable regulatory conditions for insurance agents and financial advisors.

National Association of Insurance Companies (NAIC)
A standard setting and regulatory support organization that is governed by state insurance regulators.

National Association of Professional Insurance Agents (PIA)
Professional association that provides education and advocacy for insurance agents throughout the United States.

National Insurance Producer Registry (NIPR)
An affiliate of the NAIC that provides streamlined and uniform producer licensing processes.

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