New York Laws
Article 42 - Life Insurance Companies and Accident and Health Insurance Companies and Legal Services Insurance Companies
4215 - Contracts With Industrial Life Insurance Agents; Prohibitions.

(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.

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