Georgia Statutes
§ 33-14-20 — Limitation on commission received by persons selling stock of insurers; participation by corporate officers in commissions
Georgia·Title 33
(a)No officer, agent, or other person selling or negotiating stock in any domestic insurance company shall receive either directly or indirectly more than 10 percent of the sales price of any of said stock. No president, vice-president, secretary, treasurer, or director or any other executive officer of any insurance company shall participate in the commission received by any person selling or negotiating the sale of any stock of any insurance company either directly or indirectly.
(b)No salaried officer of any insurance company shall participate in the commissions deriving from the sale of life insurance policies or agency contracts of the companies.
Free access — add to your briefcase to read the full text and ask questions with AI
Georgia § 33-14-20 (Limitation on commission received by persons selling stock of insurers; participation by corporate officers in commissions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 33-1-1
Short title§ 33-1-16-1
Excessive, fraudulent, or high-tech drug testing of certain individuals as fraudulent insurance act§ 33-1-17
Special Insurance Fraud Fund§ 33-1-2
Definitions§ 33-1-20
Health care sharing ministry