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Override Commissions

Override Commissions

Sections 1240(1) and (2); 1240(4)

Updated 05/09/16

Frequently Asked Questions

  • May a licensed producer receive an override, defined as a portion of a licensed producer's commission, for business sold by a licensed producer?

    Yes.

  • May an unlicensed individual receive an override for business sold by a licensed producer?

    Yes, so long as the unlicensed individual does not actively sell, solicit, or negotiate insurance.
The answers provided are not meant to be a substitute for legal advice.