# IN Bulletin 5: Life insurance commissions - taking assignment/transfer by life agent

> Indiana · Agency guidance · In force

URL: https://www.frixlaw.com/law-library/statutes/IN_INS_B_5

## Section

- **Citation:** IN Bulletin 5
- **Heading:** Life insurance commissions - taking assignment/transfer by life agent
- **Jurisdiction:** Indiana
- **Kind:** Agency guidance
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Indiana Department of Insurance Bulletins / Life insurance commissions - taking assignment/transfer by life agent

## Text

Bulletin 5
LIFE INSURANCE COMMISSIONS -- CORPORATE AGENCY PROHIBITED FROM
TAKING ASSIGNMENT OR TRANSFER BY LICENSED LIFE AGENT
September 18, 1956
Whereas, there is some evidence to indicate that some corporate insurance agents have violated
the law of Indiana which prohibits a corporate agency from acting as a life insurance agent; and,
Whereas, the illegal device sometimes used to accomplish such violation is to employ an
individual life licensee and to take an assignment of his commissions; and
Whereas, it is now declared that the assignment or transfer of life insurance commissions by a
licensed life agent to a corporate insurance agency which employs such life agent is illegal; and,
Whereas, it is now further declared to be illegal for any corporate agency officer or employee
who is a licensed life agent to assign or transfer life insurance commissions to any corporation, foreign or
domestic, which holds or controls the employer corporate agency;
Now, Therefore, it is directed that any corporate insurance agency which receives life insurance
commissions by way of assignment or transfer, or in any other form, from or through an officer or
employee who is a licensed life agent or which permits any employee or officer who is a licensed life
agent to assign or transfer life insurance commissions in any form to any holding corporation which
controls the said corporate agency shall forthwith have its license as an agent in the State of Indiana
revoked permanently.

This Directive does not condone or legalize any device not herein described which violates the
William J. Davey
Insurance Commissioner

## Nearby sections

- [IN Bulletin 1 Credit life/accident/health agents' examinations](https://www.frixlaw.com/law-library/statutes/IN_INS_B_1.md)
- [IN Bulletin 2 Auto Insurance Rate Classifications](https://www.frixlaw.com/law-library/statutes/IN_INS_B_2.md)
- [IN Bulletin 3 Accident/sickness insurance guaranteed renewable restrictions](https://www.frixlaw.com/law-library/statutes/IN_INS_B_3.md)
- [IN Bulletin 4 Countersignature law - retaliatory application to commissions](https://www.frixlaw.com/law-library/statutes/IN_INS_B_4.md)
- [IN Bulletin 5 Life insurance commissions - taking assignment/transfer by life agent](https://www.frixlaw.com/law-library/statutes/IN_INS_B_5.md)
- [IN Bulletin 6 Life insurance selling methods and materials - prohibited practices](https://www.frixlaw.com/law-library/statutes/IN_INS_B_6.md)
- [IN Bulletin 7 "Profit sharing" and coupon contracts prohibited practices](https://www.frixlaw.com/law-library/statutes/IN_INS_B_7.md)
- [IN Bulletin 8 Credit life/accident and maximum amount of insurance](https://www.frixlaw.com/law-library/statutes/IN_INS_B_8.md)
- [IN Bulletin 9 Asset value of data processing equipment for Annual Statements](https://www.frixlaw.com/law-library/statutes/IN_INS_B_9.md)
- [IN Bulletin 10 Workers Comp derivation filings](https://www.frixlaw.com/law-library/statutes/IN_INS_B_10.md)
- [IN Bulletin 11 Prohibition on group life dependents coverage](https://www.frixlaw.com/law-library/statutes/IN_INS_B_11.md)
- [IN Bulletin 12 Credit Life and Credit Accident and Health Insurance-Accidental dismemberment Coverage](https://www.frixlaw.com/law-library/statutes/IN_INS_B_12.md)
- [IN Bulletin 13 Assessment plan insurance - health prohibition](https://www.frixlaw.com/law-library/statutes/IN_INS_B_13.md)
- [IN Bulletin 14 Assessment plan Annual Statements - Reserves](https://www.frixlaw.com/law-library/statutes/IN_INS_B_14.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/IN_INS_B_5. Check the current official text before relying on it. Not legal advice.