26.1-26-04. Commissions
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ND Code › Title 26.1 › Chapter 26.1-26 › Section 26.1-26-04
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26.1-26-04. Commissions
1. An insurance company or insurance producer may 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 licensed.
2. A person may 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 licensed.
3. Renewal or other deferred compensation may be paid to a person for selling, soliciting,
or negotiating insurance in this state if that person was required to be licensed under
this chapter at the time of the sale, solicitation, or negotiation and was licensed at that
time.
4. An insurer or insurance producer may pay or assign commissions, service fees,
brokerages, or other valuable consideration to an insurance agency or to persons that
do not sell, solicit, or negotiate insurance in this state, unless the payment violates
section 26.1-04-06.
This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.