§ 44-2217 — Officer, director, trustee; general provisions

(1) No person while serving as an elected or appointed officer, director, or trustee of a company licensed pursuant to sections 44-2201 to 44-2221 , nor any person serving on the board of managers, trustees, or directors of a separate account of such company shall receive either directly or indirectly any commission or other form of compensation which is related to the purchase or disposal of assets of such a company or of any of its separate accounts.
(2) Where the statutes or regulations of the place of domicile of a licensed company or applicant prevent compliance with the provisions of sections 44-2201 to 44-2221 and the regulations promulgated thereunder, such company shall advise the director in writing. If the statutes or regulations of the place of domicile provide a degree of protection to the contract holder and the public which is substantially equal to that protection provided by sections 44-2201 to 44-2221 and the regulations thereunder, the director may consider this as compliance with sections 44-2201 to 44-2221 .

Legislative History

Source: Laws 1969, c. 358, § 17, p. 1265.