§ 179a — Managing general agent prohibition

Illinois § 179a

• Jurisdiction: Illinois
• Topic: REGULATION
• Ch. 215: INSURANCE
• Act 215 ILCS 5/: Illinois Insurance Code.
• Art.: Article XI - Reinsurance

Text

(a) No managing general agent, as defined in Section 141a, shall receive any compensation or remuneration for, or in any manner profit from, obtaining or arranging reinsurance for a domestic company with respect to business underwritten by that managing general agent. (b) Any person violating the provisions of this Section is guilty of a Class A misdemeanor.

Legislative History

(Source: P.A. 88-364.)