No officer or other person whose duty it is to determine the character of the risk and upon whose decision the application for insurance thereon shall finally be accepted or rejected shall receive as compensation any commission upon the premium; but the person's compensation shall be a fixed salary, fee, or the part of the net profits of the company as the board of directors may determine.
Tenn. Code Ann. § 56-21-122
Accepting or rejecting insurance shall not be compensated by commissions on premiums
Known as the Tennessee Insurance Law
The act spans §§ 56-10-101 to 56-8-206 (1,220 sections).
Acts 1907, ch. 461, § 7; Shan., § 3369a21; Acts 1921, ch. 160, § 7; Code 1932, § 6272; T.C.A
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.