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CA AB2844

Bill

Status

Passed

9/28/2018

Primary Sponsor

Ken Cooley

Click for details

Origin

State Assembly

2017-2018 Session

AI Summary

  • Requires commissions payable to broker-agents be at rates and terms agreed to in writing between the insurer and broker-agent.

  • Establishes a rebuttable presumption that a commission is lawful if it complies with existing termination contract and minimum commission requirements and follows the written agreement.

  • Mandates the written agreement be consistent with California Civil Code Part 2 (commencing with Section 1549) governing contracts.

  • Applies to written agreements entered into or modified on or after January 1, 2019.

Legislative Description

Insurance: agents and brokers.

Last Action

Chaptered by Secretary of State - Chapter 879, Statutes of 2018.

9/28/2018

Committee Referrals

Insurance5/24/2018
Rules5/15/2018
Insurance3/22/2018

Full Bill Text

No bill text available