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Referral Fees
- May an unlicensed individual provide a list of referrals to a licensed producer for a fee?
Yes, so long as payment of the referral fee is not contingent upon a referral applying for or purchasing a policy.
- Is there a limit on the dollar amount or value of the gift or service offered as a referral fee?
No, so long as payment of the referral fee does not violate MCL 500.2024, which prohibits rebating or inducement.
- May an attorney acting as a counselor that is not licensed as a counselor provide referrals to a licensed producer for a fee?
Yes.
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The answers provided are not meant to be a substitute for legal advice.