Section 406-C:11 Prohibition on Discrimination Against Non-Affiliated Agents.
I. The financial institution shall not condition the provision of any product or service to any customer upon the purchase of a policy or contract of insurance through a particular insurer, agent, or broker or reject any insurance policy required in connection with a loan or extension of credit solely because such policy has been issued or underwritten by any person who is not associated with such institution.
II. The financial institution shall not impose any discriminatory requirement on any insurance agent or broker who is not associated with the financial institution that is not imposed on any insurance agent who is associated with such institution.
III. Unless otherwise authorized by any applicable federal or state law, no financial institution shall require any debtor, insurer, broker, or agent to pay a separate charge in connection with the handling of insurance that is required under a contract.
Source. 1997, 223:3, eff. Aug. 17, 1997.