Section 2116. Insurance brokers; commissions  


Latest version.
  • No insurer authorized to do
      business in this state, and no officer, agent  or  other  representative
      thereof,  shall  pay  any  money or give any other thing of value to any
      person, firm, association or corporation for or because of  his  or  its
      acting  in  this state as an insurance broker, unless such person, firm,
      association or corporation is authorized  so  to  act  by  virtue  of  a
      license  issued  or  renewed  pursuant  to the provisions of section two
      thousand one hundred four of this article.  For  the  purposes  of  this
      section,  "acting as insurance broker" shall not include the referral of
      a person to a licensed insurance agent or broker that does not include a
      discussion of specific insurance policy terms and conditions  and  where
      the  compensation  for  referral  is  not  based  upon  the  purchase of
      insurance by such person.
        * NB Effective until September 10, 2011