Insurance Code - INS
DIVISION 1. GENERAL RULES GOVERNING INSURANCE [100 - 1879.8]
( Division 1 enacted by Stats. 1935, Ch. 145. ) PART 2. THE BUSINESS OF INSURANCE [680 - 1879.8]
( Part 2 enacted by Stats. 1935, Ch. 145. ) CHAPTER 8. Life and Disability Insurance Analysts [1831 - 1849]
( Heading of Chapter 8 amended by Stats. 1983, Ch. 962, Sec. 3.5. ) 1848.
A person licensed pursuant to this chapter shall not charge a fee for any service which is customarily associated with the solicitation of insurance sales or the servicing of insurance contracts written by the licensee or contracts for which the licensee is receiving compensation from the insurer. A licensee shall not receive any fee unless that fee is based upon a written agreement signed by the party to be charged.
The agreement shall include a statement that information and services concerning insurance policies may be obtained directly from the insurer without cost, a statement outlining the services to be performed for which a fee is to be charged, and the fee to be charged. Additionally, if the licensee is also licensed pursuant to Chapter 5 (commencing with Section 1621), there shall be a statement in the agreement indicating that the licensee is so licensed and, as such, receives commissions for the sale of products. A copy of every such agreement shall be retained by the licensee for not less than three years after the services have been fully performed.
(Added by Stats. 1983, Ch. 962, Sec. 13.)