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CA AB2844
Bill
Status
Passed
9/28/2018
Primary Sponsor
Ken Cooley
Click for details
AI Summary
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Requires commissions payable to broker-agents be at rates and terms agreed to in writing between the insurer and broker-agent.
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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.
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Mandates the written agreement be consistent with California Civil Code Part 2 (commencing with Section 1549) governing contracts.
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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