2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 522B - LICENSING OF INSURANCE PRODUCERS
522B.12 - COMMISSIONS.

        522B.12  COMMISSIONS.
         1.  An insurer or insurance producer shall not pay a commission,
      service fee, brokerage, or other valuable consideration to a person
      for selling, soliciting, or negotiating insurance in this state if
      that person is required to be licensed under this chapter and is not
      so licensed.
         2.  A person shall not accept a commission, service fee,
      brokerage, or other valuable consideration for selling, soliciting,
      or negotiating insurance in this state if that person is required to
      be licensed under this chapter and is not so licensed.
         3.  Renewal or other deferred commissions may be paid to a person
      for selling, soliciting, or negotiating insurance in this state if
      the person was required to be licensed under this chapter at the time
      of the sale, solicitation, or negotiation and was so licensed at that
      time.
         4.  An insurer or insurance producer may pay or assign a
      commission, service fee, brokerage, or other valuable consideration
      to an insurance agency or to a person who does not sell, solicit, or
      negotiate insurance in this state, unless the payment would violate
      chapter 507B.  

         2001 Acts, ch 16, §26, 37; 2007 Acts, ch 152, §83