California Insurance Code

§ 1724

INS § 1724 Effective Jan 1, 2004Div. 1 · Part 2 · Ch. 5 · Art. 12

Statute text

An agent, broker, or solicitor who is not an active member of the State Bar of California may not share a commission or other compensation with an active member of the State Bar of California. For purposes of this section, “commission or other compensation” means pecuniary or nonpecuniary compensation of any kind relating to the sale or renewal of an insurance policy or certificate or an annuity, including, but not limited to, a bonus, gift, prize, award, or finder’s fee.

Legislative history

Added by Stats. 2003, Ch. 547, Sec. 4. Effective January 1, 2004.