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NC S122
Bill
AI Summary
- Caps referral fees paid to unlicensed persons for referring insurance business to licensed insurance agents or brokers at $50.00 maximum value
- Establishes a penalty of up to $2,000 fine per violation for exceeding the referral fee cap
- Becomes effective October 1, 2023, and applies to all insurance business referrals made on or after that date
- Amends G.S. 58-33-82 regarding insurance commissions
Legislative Description
Insurance Referral Fee Cap
Commerce; Fees; Fines & Penalties; Insurance; Public
Last Action
Ref To Com On Rules and Operations of the Senate
2/20/2023
Committee Referrals
Rules and Operations of the Senate2/20/2023
Full Bill Text
No bill text available