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Tex. Ins. Code § 882.203

LIMITATION ON AGENT COMPENSATION

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff

A contract between a mutual life insurance company and an agent of the company to which a license has been issued under Section 882.202 may not provide a commission or other compensation to the agent that exceeds the expense loading in the premiums on policies that are issued on applications obtained by the agent and for which the premiums are collected and paid to the company in cash.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.