Skip to main content
Find a Lawyer

New York Consolidated Laws, Insurance Law - ISC § 4215. Contracts with industrial life insurance agents;  prohibitions

Current as of January 01, 2026 | Updated by Findlaw Staff

(a) No life insurance company licensed to do business in this state shall make any contract with any agent, superintendent or other representative employed in this state which provides:

(1) That the company shall charge against the past, present or future compensation of the agent, superintendent or other representative, either salary or commission, any sum of money as a result of the surrender for cash of any industrial policy by any policyholder;

(2) That the company shall charge against the past, present or future compensation of the agent, superintendent or other representative, either salary or commission, any sum of money as a result of the lapse of any industrial policy that has been in force for three years or longer.

(b) The provisions of subsection (a) hereof shall not prohibit the company from contracting with its agents, superintendents or other representatives, to charge any agent, superintendent or other representative, a sum not exceeding the commission on any policy written by the agent, superintendent or other representative on the life of any person, or any relative sharing the home with the person, who has terminated a policy of the company not more than three months before or who terminates such a policy within three months after the policy was written.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - New York Consolidated Laws, Insurance Law - ISC § 4215. Contracts with industrial life insurance agents;  prohibitions - last updated January 01, 2026 | https://codes.findlaw.com/ny/insurance-law/isc-sect-4215/

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.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard