41-1017. COMMISSIONS. (1) An insurance company or insurance producer shall not pay a commission, service fee or other valuable consideration to a person for selling, soliciting or negotiating insurance in this state if that person is not duly licensed as required under this chapter.
(2) A person shall not accept a commission, service fee or other valuable consideration for selling, soliciting or negotiating insurance in this state if that person is not duly licensed as required under this chapter.
(3) Renewals or other deferred commissions may be paid to a person for selling, soliciting or negotiating insurance in this state if that person was duly licensed as required under this chapter at the time of the sale, solicitation or negotiation.
(4) An insurer or insurance producer may pay or assign commissions, service fees or other valuable consideration to any person, regardless of whether that person is licensed as a producer, unless the payment or assignment would violate a specific section of title 41, Idaho Code, including, but not limited to, sections 41-1314 and 41-2708, Idaho Code, or department rule.
History:
[41-1017, added 2001, ch. 296, sec. 3, p. 1057.]
Structure Idaho Code
Chapter 10 - PRODUCER LICENSING
Section 41-1001 - PURPOSE AND SCOPE.
Section 41-1002 - TERMS CONSTRUED.
Section 41-1003 - DEFINITIONS.
Section 41-1004 - LICENSE REQUIRED.
Section 41-1005 - EXCEPTIONS TO LICENSING.
Section 41-1006 - APPLICATION FOR EXAMINATION.
Section 41-1007 - APPLICATION FOR PRODUCER LICENSE.
Section 41-1008 - PRODUCER LICENSE.
Section 41-1009 - NONRESIDENT PRODUCER LICENSE.
Section 41-1010 - NONRESIDENT PRODUCERS — SERVICE OF PROCESS.
Section 41-1011 - ISSUANCE — REFUSAL OF LICENSE.
Section 41-1012 - EXEMPTION FROM EXAMINATION.
Section 41-1013 - CONTINUATION — EXPIRATION OF LICENSES — CONTINUING EDUCATION STATEMENT.
Section 41-1014 - ASSUMED NAMES.
Section 41-1015 - TEMPORARY LICENSING.
Section 41-1016 - ADMINISTRATIVE PENALTY — SUSPENSION, REVOCATION, REFUSAL OF LICENSE.
Section 41-1017 - COMMISSIONS.
Section 41-1018 - APPOINTMENTS.
Section 41-1019 - NOTIFICATION TO DIRECTOR OF TERMINATION.
Section 41-1020 - RECIPROCITY.
Section 41-1021 - REPORTING OF ACTIONS.
Section 41-1022 - INSURERS MUST ACCEPT BUSINESS THROUGH LICENSED PRODUCERS ONLY.
Section 41-1023 - COUNTERSIGNATURE OF POLICIES — POWER OF ATTORNEY.
Section 41-1024 - REPORTING AND ACCOUNTING FOR PREMIUMS.
Section 41-1026 - PROCEDURE FOLLOWING SUSPENSION, REVOCATION, DENIAL — REINSTATEMENT.
Section 41-1028 - INACTIVE STATUS.
Section 41-1029 - SEVERABILITY.
Section 41-1030 - PRODUCER COMPENSATION.
Section 41-1037 - REQUIREMENTS FOR BAIL AGENTS — FINDINGS — PURPOSE.
Section 41-1038 - DEFINITIONS.
Section 41-1039 - LICENSE REQUIRED.
Section 41-1040 - BOND REQUIRED.
Section 41-1042 - COLLECTIONS AND CHARGES PERMITTED.
Section 41-1044 - EARLY SURRENDER OF DEFENDANT TO CUSTODY — RETURN OF PREMIUM.
Section 41-1045 - RESPONSIBILITY FOR ACTIONS OF OTHERS.
Section 41-1081 - REQUIREMENTS FOR SALE OF PORTABLE ELECTRONICS INSURANCE — FINDINGS — PURPOSE.
Section 41-1082 - DEFINITIONS.
Section 41-1083 - LICENSURE OF VENDORS.
Section 41-1084 - REQUIREMENTS FOR SALE OF PORTABLE ELECTRONICS INSURANCE.
Section 41-1085 - AUTHORITY OF VENDORS OF PORTABLE ELECTRONICS.
Section 41-1086 - RESPONSIBILITY FOR ACTIONS OF OTHERS.
Section 41-1087 - SUSPENSION OR REVOCATION OF LICENSE.
Section 41-1088 - TERMINATION OF PORTABLE ELECTRONICS INSURANCE.
Section 41-1089 - APPLICATION FOR LICENSE AND FEES.
Section 41-1090 - SHORT TITLE.
Section 41-1091 - DEFINITIONS.
Section 41-1092 - REQUIREMENTS FOR LIMITED LINES TRAVEL INSURANCE PRODUCERS.
Section 41-1093 - REGISTRATION REQUIRED.
Section 41-1094 - TYPE OF POLICY.
Section 41-1095 - RESPONSIBILITY OF LIMITED LINES TRAVEL INSURANCE PRODUCERS.