Bill Summary for S 122 (2023-2024)
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Summary date:
Feb 16 2023
Bill Information:
View NCGA Bill Details | 2023-2024 Session |
AN ACT PLACING A CAP ON INSURANCE REFERRAL FEES PAID TO NONLICENSED PERSONS.Intro. by Johnson.
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Bill summary
Amends GS 58-33-82 to cap at $50 commissions, fees, or other valuable consideration paid to an unlicensed person for referral of insurance business to a licensed insurance agent or broker, with violations punishable by up to a $2,000 fine in addition to other legal penalties. Applies to referrals of insurance business made on or after October 1, 2023.