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Current as of January 01, 2023 | Updated by Findlaw Staff
No officer or other person whose duty it is to determine the character of the risk, and upon whose decision the application shall be accepted or rejected by an insurance company, shall receive as any part of his compensation a commission upon the premiums, but his compensation shall be a fixed salary and such share in the net profits as the directors may determine. Nor shall such officer or person be an employee of any officer or agent of the company.
Cite this article: FindLaw.com - North Carolina General Statutes Chapter 58. Insurance § 58-7-140. Certain officers debarred from commissions - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-58-insurance/nc-gen-st-sect-58-7-140/
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