2017 Louisiana Laws
Revised Statutes
TITLE 22 - Insurance
RS 22:1808.9 - Commissions
§1808.9. Commissions
A. No person or business entity licensed and acting as an insurance consultant under a written agreement pursuant to R.S. 22:1808.11, shall accept any commission, service fee, brokerage, or other valuable consideration for selling, soliciting, or negotiating insurance in this state.
B.(1) No member of an insurance advisory committee of any state agency, board, commission, or of any political subdivision of this state, including but not limited to school boards, levee boards, deep water port commissions, deep water port, harbor and terminal districts, and the Louisiana Stadium and Exposition District, shall split, pass on, or share with any insurance consultant or other person who is not a member of his own firm or corporation and is not a member of such an insurance advisory committee, all or any portion of the commission derived by such committee from the purchase of insurance by such state agency, board, commission, or political subdivision of the state without express authorization by official action of such state agency, board, commission, or political subdivision of the state. Any insurance consultant or other person who is not a member of such firm or corporation and is not a member of such an insurance advisory committee who receives without authorization all or any portion of such commission shall also be in violation of this Section.
(2) Any person who violates the provisions of this Section shall, upon conviction, be fined not less than one thousand dollars, nor more than five thousand dollars per violation, or imprisoned for not more than two years, or both.
(3) Any conviction for a violation of the provisions of this Section shall constitute grounds for suspension or revocation by the commissioner of insurance of the license of such insurance consultant, in addition to those grounds of R.S. 22:1808.8.
Acts 2016, No. 312, §1.
