SECTION 365:25-3-7. Advance commissions to officers

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(a) Purpose. The purpose of this section is to prohibit the payment of excess or unearned commissions by a domestic insurance company to its officers.
(b) Advance commissions to officers prohibited. No domestic insurance company shall pay to any of its officers any commissions in excess of those earned, or otherwise advance to any of its officers any sums of money in anticipation of commissions not then earned.

                    
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