Section 3-118 - Agreements to pay expenses of management.
§ 3-118. Agreements to pay expenses of management.
A domestic stock insurer or domestic mutual insurer may not enter into an agreement in which a person agrees to pay all or part of the expenses of management of the domestic stock insurer or domestic mutual insurer in consideration of an agreement to pay to the person commissions on premiums due the domestic stock insurer or domestic mutual insurer or any other compensation for the person's services.
[An. Code 1957, art. 48A, § 268A; 1995, ch. 36.]