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Current as of January 01, 2025 | Updated by Findlaw Staff
If at the time of the solicitation and issuance of a policy of life or disability insurance, or of a surety bond which by its terms continues until canceled, a person may lawfully receive commissions on it, that person, or in the event of that person's death, his or her estate or heirs may continue to receive commissions on it during the continuance in force or renewal of the policy or bond without being licensed under the provisions of Chapter 5 (commencing with Section 1621) of Part 2 if all of the following requirements are met:
(a) The recipient does not transact insurance in connection with the policy or bond while not so licensed.
(b) The payment is made pursuant to a contract entered into, before that solicitation and issuance, between the insurer paying or allowing the commission and that person.
Cite this article: FindLaw.com - California Code, Insurance Code - INS § 755 - last updated January 01, 2025 | https://codes.findlaw.com/ca/insurance-code/ins-sect-755/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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