TITLE XXXVII
INSURANCE
CHAPTER 402-J
PRODUCER LICENSING
Section 402-J:13
402-J:13 Commissions. –
I. 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 so licensed.
II. A person shall not accept a commission, service fee, brokerage or other valuable consideration for selling, soliciting, or negotiating insurance in this state if that person is required to be licensed under this chapter and is not so licensed.
III. Renewal or other deferred commission may be paid to a person for selling, soliciting or negotiating insurance in this state if the person was required to be licensed under this chapter at the time of the sale, solicitation, or negotiation and was so licensed at that time.
IV. An insurer or insurance producer may pay or assign commissions, service fees, brokerages, or other valuable consideration to an insurance agency or to persons who do not sell, solicit, or negotiate insurance in this state, unless the payment would violate RSA 417:4, IX.
Source. 2000, 315:1.