§ 26-9-212 — Commissions

Wyoming § 26-9-212

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 9: AGENCIES AND ADJUSTERS

Text

(a) An insurer or insurance producer shall not pay a
commission, service fee, brokerage or other valuable
consideration to a person for selling, soliciting or negotiating
insurance in this state if that person is required to be
licensed under this chapter and is not so licensed.
(b) A person shall not accept a commission, service fee,
brokerage or other valuable consideration for selling,
soliciting or negotiating insurance in this state if that person
is required to be licensed under this chapter and is not so
licensed.
(c) Renewal or other deferred commissions may be paid to a
person for selling, soliciting or negotiating insurance in this
state if the person was required to be licensed under this
chapter at the time of the sale, solicitation or negotiation and
was so licensed at that time.
(d) An insurer or insurance producer may pay or assign
commissions, brokerages or other valuable consideration to an
insurance agency or to persons who do not sell, solicit or
negotiate insurance in this state, unless the payment would
violate W.S. 26-13-109 or 26-13-110.