Section 566. Insurance agents and brokers; acquisition by premium finance agencies of premium finance agreements

1. An insurance agent or  broker  may  be  licensed  as  a  premium finance agency in accordance with this
  article.
    2. Notwithstanding any contrary provisions of  the  personal  property
  law, banking law or other law:
    (a) No premium finance agency, and no employee of such an agency shall
  pay,  allow  or  offer  to  pay  or allow in any manner whatsoever to an
  insurance agent or broker or any  employee  of  an  insurance  agent  or
  broker, or to any other person, either as an inducement to the financing
  of  any  insurance  policy  with the premium finance agency or after any
  such policy has been financed, any rebate whatsoever,  either  from  the
  service  charge for financing specified in the premium finance agreement
  or otherwise, or shall give or offer to give any valuable  consideration
  or  inducement of any kind directly or indirectly, other than an article
  of merchandise not exceeding  one  dollar  in  value  which  shall  have
  thereon  the  advertisement of the premium finance agency, but a premium
  finance agency may purchase  or  otherwise  acquire  a  premium  finance
  agreement,  provided  that  it conforms to this article in all respects,
  from an insurance agent or broker or another premium finance agency with
  recourse  against  the  agent,  broker  or  agency  on  such  terms  and
  conditions as may be mutually agreed upon; and
    (b) No filing of the assignment or notice thereof to the insured shall
  be  necessary  to  the  validity  of the written assignment of a premium
  finance  agreement  as  against  creditors  or  subsequent   purchasers,
  pledgees or encumbrances of the assignor.