Amended by Stats. 2011, Ch. 411, Sec. 51. (AB 1416) Effective January 1, 2012.
Under the authority of the credit insurance agent license, a credit insurance agent shall not do any of the following:
(a)Offer to sell insurance except in conjunction with, and incidental to, a loan or extension of credit.
(b)Advertise, represent, or otherwise portray itself or its employees, agents, or endorsees as licensed insurers, life agents, property broker-agents, or casualty broker-agents.
(c)Pay any unlicensed person any compensation, fee, or commission dependent on the placement of insurance under the agent’s license. Nothing in this subdivision shall prohibit
production payments or incentive payments to an endorsee.
Cite this section
Other sections in Article 16.7 - Credit Insurance Agents