Compensation of unlicensed persons prohibited.
No company, policy-writing agent, soliciting agent, broker, or salaried employee shall pay any money or commission or brokerage or give or allow any valuable consideration to any person for or because of service in the District in negotiating or effecting a policy on any person, property, business activity, or insurable interest in the District, unless said person is duly licensed in conformity with this chapter as a broker or as an agent or salaried employee of the company issuing the policy. This section shall not apply to contracts of reinsurance, and shall not apply to persons and kinds of insurance exempted under § 31-2502.38.
Annotations
Oct. 9, 1940, 54 Stat. 1077, ch. 792, ch. II, § 31 1973 Ed., § 35-1335. 1981 Ed., § 35-1535.
Sourced from the DC Council Open Law Library (public domain).
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