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23-66-311. Business development compensation to life policyholders.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-66-311. Business development compensation to life policyholders.
No life insurer shall discriminate between its policyholders by allowing, or agreeing to allow, to any policyholder, whether as an individual or as a member of a class, a portion or percent of any premium collected by the insurer from any policyholder on the pretense of making the policyholder an agent of the insurer or otherwise, unless that policyholder regularly qualifies and is licensed as an agent of the insurer, and is instrumental in actually securing business for the insurer, as evidenced by his or her name appearing on the application or applications of other policyholders, as soliciting agent, and his or her compensation for the services is limited to a reasonable commission on the business thus secured by the insurer through his or her instrumentality.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-66-311
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-66-311
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: de6fe7333ddc4298c39630f6915b125c0b5709babd51a812dce3fec144590cdf
Source location: content.xml paragraph 38019
Stored source content
23-66-311. Business development compensation to life policyholders.
No life insurer shall discriminate between its policyholders by allowing, or agreeing to allow, to any policyholder, whether as an individual or as a member of a class, a portion or percent of any premium collected by the insurer from any policyholder on the pretense of making the policyholder an agent of the insurer or otherwise, unless that policyholder regularly qualifies and is licensed as an agent of the insurer, and is instrumental in actually securing business for the insurer, as evidenced by his or her name appearing on the application or applications of other policyholders, as soliciting agent, and his or her compensation for the services is limited to a reasonable commission on the business thus secured by the insurer through his or her instrumentality.
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